Wednesday, January 16, 2008
Analysts downgrade Lookers forecast
Analysts have marked down Lookers profit forecasts for 2007 after the group released its trading statement this morning.
Jose Marco, Numis Securities investment analyst, had previously expected Lookers to post a pre-tax profit of £30 million but reduced his expectations to £24.5m.
His forecast puts Lookers almost £2m down on its 2006 pre-tax profits of £26.4m.
David Dyson, Lookers finance director, told AM: "The second half of the year was tougher than we expected. We will be increasing our dividend and we’re happy with the figures we’ve produced."
While the profit expectations have been reduced, Marco expects Lookers to increase its earnings per share from 7.16p in the first half of 2007 to 9.16p
DATED: 16.01.08
FEED: AM
Jose Marco, Numis Securities investment analyst, had previously expected Lookers to post a pre-tax profit of £30 million but reduced his expectations to £24.5m.
His forecast puts Lookers almost £2m down on its 2006 pre-tax profits of £26.4m.
David Dyson, Lookers finance director, told AM: "The second half of the year was tougher than we expected. We will be increasing our dividend and we’re happy with the figures we’ve produced."
While the profit expectations have been reduced, Marco expects Lookers to increase its earnings per share from 7.16p in the first half of 2007 to 9.16p
DATED: 16.01.08
FEED: AM
