Wednesday, May 14, 2008
Lookers confident for growth
Lookers is confident of delivering another year of growth despite its new car sales dropping by 5% on a like-for-like basis during the first quarter.
The group told shareholders at its AGM that its Northern Ireland business experienced tougher market conditions than the rest of the United Kingdom which dragged down sales figures.
The group added that while it started the current financial year with a much stronger business compared to last year, it remains cautious about organic growth in new car sales within its franchise division.
Lookers it would deliver results in line with market expectations as long as there is “no further significant deterioration in the UK’s economy”.
The company’s acquisitions of Dutton-Forshaw and Bramall and Jones VW are expected to help boost profits in 2008.
These, together with the continuing investment in the independent aftermarket parts division, and the turnaround in the car supermarkets, will contribute positively to the outcome in the current year, the group added.
DATED: 14.05.08
FEED: AM
The group told shareholders at its AGM that its Northern Ireland business experienced tougher market conditions than the rest of the United Kingdom which dragged down sales figures.
The group added that while it started the current financial year with a much stronger business compared to last year, it remains cautious about organic growth in new car sales within its franchise division.
Lookers it would deliver results in line with market expectations as long as there is “no further significant deterioration in the UK’s economy”.
The company’s acquisitions of Dutton-Forshaw and Bramall and Jones VW are expected to help boost profits in 2008.
These, together with the continuing investment in the independent aftermarket parts division, and the turnaround in the car supermarkets, will contribute positively to the outcome in the current year, the group added.
DATED: 14.05.08
FEED: AM
