In just two weeks, Lookers successively announced the planned £120m disposal of its Parts division, a £55m acquisition, a fine set of interim results and, finally, another £27m acquisition introducing BMW/MINI to the group. All point positively to the future, yet the shares languish at 30% below their 12-month high and at a 45% P/E discount to the retail sector.
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Plenty of action
- Published:
31 Aug 2016 -
Author:
Nigel Harrison -
Pages:
14
In just two weeks, Lookers successively announced the planned £120m disposal of its Parts division, a £55m acquisition, a fine set of interim results and, finally, another £27m acquisition introducing BMW/MINI to the group. All point positively to the future, yet the shares languish at 30% below their 12-month high and at a 45% P/E discount to the retail sector.