Lookers’ H1 results show a strong performance against a backdrop of severe vehicle supply disruption. H1 revenue increased 3.6% to £2,230m and gross profit increased 9.8% to £282.8m, driven by both market tailwinds and ‘self-help’ operational improvements. Underlying PBT was £47.2m, above the c. £45m flagged in the 29 June trading update, but lower than the £50.0m in H1 2021. However, the prior period benefitted from £12.7m of government support, suggesting the implied base is c. £37m. There is ....
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Lookers plc (LOOK LN) - Strong underlying growth
- Published:
24 Aug 2022 -
Author:
Carl Smith, CFA -
Pages:
10
Lookers’ H1 results show a strong performance against a backdrop of severe vehicle supply disruption. H1 revenue increased 3.6% to £2,230m and gross profit increased 9.8% to £282.8m, driven by both market tailwinds and ‘self-help’ operational improvements. Underlying PBT was £47.2m, above the c. £45m flagged in the 29 June trading update, but lower than the £50.0m in H1 2021. However, the prior period benefitted from £12.7m of government support, suggesting the implied base is c. £37m. There is ....