Lookers upgrades profit forecast
Car dealership group Lookers has upgraded its profit forecast after what its boss hailed as an "outstanding" start to the year.
The board now expects underlying profit to reach £50 million in the first half, compared to a loss of more than £36 million last year.
The car seller, which has sites in the Black Country, Shropshire and Staffordshire, said that there is still uncertainty around the pandemic as well as constraints on supply.
Nevertheless, underlying profit before tax is expected to exceed the board's previous expectation.
CEO Mark Raban said: “The business has delivered an outstanding performance in the first half of the year, despite the multiple difficulties presented by the pandemic.
“The whole team has made extraordinary efforts to ensure our customers continue to receive an excellent service, however they choose to purchase a car through Lookers, and the enhancements made to our digital proposition have made a real difference.
“There remains some uncertainty and challenges for the second half, but given the current momentum in the business, coupled with our focus on operational excellence and continuous development of our omni-channel customer experience, the board is confident of delivering a strong result for the year.”
