Andy Bruce of Lookers plc
The Altrincham-headquartered car retail group saw pre-tax profits fall 27% last year as new car sales slowed across the UK.
Lookers recorded a 27% fall in pre-tax profits to £58.4m last year, but cheered resilient sales amid “difficult” market conditions.
Sales of new cars slowed across the UK throughout 2017 amid consumer confusion over Government restrictions on diesel vehicles and rising inflation.
Despite this, Lookers put in a robust performance during the period, with like-for-like new car sales rising by 3%, outperforming the market.
Andy Bruce, chief executive of Lookers, said: “This result represents a positive performance against a backdrop of difficult trading conditions across the motor sector, particularly in the second half of the year.”
He added: “The order book for new cars in the important month of March is in line with our expectations and whilst the new car market for this year is forecast to reduce, it is still at a historically high level.”
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