Breaking: Lookers posts £63m profit in seventh consecutive year of growth

A “strong” 2015 has delivered profit and revenue growth for North West autodealer Lookers plc.

The 12 months to December 31, which represented the seventh year of growth in a row for the Manchester-headquartered motor retailer, saw Lookers achieve a 6% year-on-year increase in its pre-tax profit at £62.8m.

Elsewhere, the firm’s revenue rose by 20% to hit £3.65bn.

Lookers saw its turnover in 2015 grow by £330m, with £263m of that figure attributed to its acquisition of Benfield Motor Group, which was snapped up in September for £87.5m.

Andy Bruce, Lookers’ chief executive, said: “We have delivered another strong trading performance in 2015, our seventh consecutive year of increased profits, which provides further evidence that our business model is both resilient and expansive through the cycle.

“Our motor division and our parts divisions also produced excellent results, showing the diversity and strength of our operations.

He continued: “Our strategy is to: have the right brands, the right locations and excellent execution.

“By implementing this, we are ideally placed to take advantage of growth prospects across all areas of the business as well as consolidation opportunities in the sector, not least because businesses of scale will be the winners in our sector.”

Speaking further, Mr Bruce said Lookers is now confidence of achieving “another improved performance” in 2016.

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