Summary
Pounds 25m forecast overtaken as Lookers finds a new speed KEN SURGENOR, chief executive of car dealer Lookers, today told shareholders the group had not only reached but will now beat the forecast of pre-tax profits up 39% at Pounds 25.4 million, made last April when it saw off a Pounds 240 million takeover bid from Pendragon. Ex-car dealer Tony Bramall has made a small fortune rescuing Lookers, buying a 24.4% stake for Pounds 55.7 million during the bid and in effect blocking Pendragon. His holding is now worth more than Pounds 77 million. Lookers said trading across all franchises had been good, with Mazda one of the most improved marques. Its revitalised parts distribution arm also performed strongly.
In August, the group bought 10 South-East dealerships from HR Owen.See the full content of this document
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