Lookers has released a trading update for the year to 31 December 2022 showing stronger than expected Q4 trading. Underlying PBT guidance for FY22 is increased to “greater than £80m”, so we upgrade our forecast by 9.1% from £75.6m to £82.5m. This would exceed the record FY21 PBT of £90.1m (£90.7m excl. SBP) after adjusting for £9.8m of Covid-19 support, which is an impressive result in light of the vehicle supply challenges and high UK inflation seen in 2022. On a FY22 P/E of 4.6x with cash and ....
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Lookers plc (LOOK LN) - Near record underlying PBT expected
- Published:
11 Jan 2023 -
Author:
Carl Smith, CFA -
Pages:
8
Lookers has released a trading update for the year to 31 December 2022 showing stronger than expected Q4 trading. Underlying PBT guidance for FY22 is increased to “greater than £80m”, so we upgrade our forecast by 9.1% from £75.6m to £82.5m. This would exceed the record FY21 PBT of £90.1m (£90.7m excl. SBP) after adjusting for £9.8m of Covid-19 support, which is an impressive result in light of the vehicle supply challenges and high UK inflation seen in 2022. On a FY22 P/E of 4.6x with cash and ....