22:01 07/03/2012 Investors Chronicle .................
Lookers on cruise control
07 March 2012
http://bit.ly/ApiL3d
RESULTS: Lookers is coping well with difficult market conditions, and after slashing debt is eyeing further deals to cement its strong market position By SpikeyDT
8:11 07/03/2012 Re: Results
great business, ahead of the field yet again and underwritten by property portfolio. By Andy0000
7:47 07/03/2012 Results
Seems like a very solid set of results. By cottagegardener
15:07 02/02/2012 Re: Any clues
Maybe bid rumours again or maybe leaks of decent results pending, though I think results not due out till around 9th March

Anyway about time we made a bit with advance in the sp

Tyke By Tykeontheborder
14:03 02/02/2012 Any clues
What's causing the sudden upsurge??? By D Wolves
0:31 22/01/2012 Trading update
Aren't we due an update now?

o2
By optimistic2
15:33 28/10/2011 Edison Investment Research
Lookers - Responding to the market Click for report
Fri, Oct 28, 2011 at 2:28 PM
http://www.edisoninvestmentresearch.co.uk/researchreports/lookers281011update.pdf
The Lookers IMS bears comparison with recent statements from other UK motor distributors, with the group emerging from a challenging third quarter with our 2011 estimates still intact. The group appears to have gained market share in all aspects of the business, while the defensive qualities, inherent in the group’s aftermarket operations, demonstrate an ability to respond to the current market conditions.

Lookers is a leading motor vehicle and specialist parts distributor. It operates 119 franchises, representing 33 marques spread across the UK. There is a strong regional presence in Northern Ireland and Northern England.
Year
End Revenue
(£m) PBT
(£m) EPS
(p) DPS
(p) P/E
(x) Yield
(%)
12/09 1,749
28.3
7.3
0.0
7.3
N/A
12/10 1,884
33.6
6.6
1.8
8.1
3.4
12/11e 1,950
34.5
6.7
2.4
7.9
4.5
12/12e 2,000
35.0
6.8
2.5
7.8
4.7
Lookers is a research client of Edison Investment Research. By SpikeyDT
12:52 28/10/2011 Growth Investor-Ben Jaglom
Looking better
28/10/2011 Ben Jaglom
http://www.growthcompany.co.uk/news/1664793/looking-better.thtml

Car dealership Lookers (LOOK) has reported a 2 per cent increase in new car sales despite the 'difficult trading conditions' in the industry.

The FTSE Small Cap constituent has issued a trading update for the period from 1 July to 27 October, declaring the 2 per cent rise in new car sales and noting that the UK market as a whole has reported a 5 per cent decline over the nine months to September. Lookers reports a 10 per cent fall in new car retail sales on a year-on-year basis, while fleet sales soared 30 per cent, a performance the company described as being 'significantly ahead' of the market as a whole.

Lookers says used car sales have been 'affected by weaker consumer demand' and were 'slightly lower than last year', while aftersales revenue (including the sale of products such as extended warranties, in car entertainment, etc) 'remained in line' with the prior year's results. The company says its parts division has continued 'to perform well' despite the 'reduced turnover with two large customers'.

Lookers remarks that both the 'new and used car markets continue to be affected by uncertain economic conditions' but that its 'aftersales bias' and 'strong performance over the last two years' demonstrate its ability 'to perform well in a difficult market'.

Analysts at Panmure Gordon are forecasting earnings of 6.04p and 6.06p a share for 2011 and 2012, respectively.

Shares in Lookers have slipped to 53.75p from a 2011 high of 72.75p. The latest update reveals a mixed picture in which a weakening used and new car market is offset by strong demand from fleet buyers, which is helping to bolster sales across the British car industry as a whole. However, it is uncertain this continued momentum in fleet sales can continue forever with the economic challenges facing the UK likely to lead to further pressures on car retailers. We would recommend reducing any holdings in Lookers for now. Reduce.


Tags: Aftersales, British car industry, Fleetsales, FTSE Small Cap, General Retailers sector, Used car market

Sector: General Retailers

Companies: Lookers By SpikeyDT
22:20 20/09/2011 FT-
September 20, 2011 7:34 pm
Small caps:
By Neil Hume and Bryce Elder


Elsewhere, there was heavy trading in Lookers , the car dealer that recently received a takeover approach from a consortium led by serial stakebuilder Jack Petchey. Over 9m shares changed hands after an institution sold a large chunk of stock via broker Peel Hunt. There was also talk that Lookers could receive another approach. Lookers rose 3.4 per cent to 53¾p. In the same sector Pendragon firmed 0.1 per cent to 9.96p. Traders reckon underwriters to its recent rights issue might have placed some of the stock they were forced to take up.


http://www.ft.com/cms/s/0/b8f2bcda-e38d-11e0-8f47-00144feabdc0.html#ixzz1YWcUxUnt By SpikeyDT
16:47 24/08/2011 Gaining traction
UK value investing blog Expecting Value with a rundown of why Lookers is a member of his portfolio

http://expectingvalue.com/2011/lookers-look
 (follow link from graphs etc.)

Staying true to my promise last week, I'm sticking with analysing the companies in my portfolio which haven't yet been covered, and a big one on that list is Lookers. Big in two ways - in market cap terms, it's in the larger end of my portfolio at almost £200m. It's also weighty in my allocation, where it occupies a joint 3rd spot at a starting 8% of my portfolio. It's since fluctuated - it's down 4% since inception, but I've a hunch this is a strong performance given the (relatively) high beta of automotive-related stocks. There're several complicating factors, as always, but I remain confident in Lookers prospects, which have only served to solidify since my original pick with a strong IMS.

Lookers are a large automotive group - with almost £2bn of sales last year across their two divisions, motors and parts distribution. Around 50% of their revenue comes from the sale of new cars, which explains the high beta element; the new car market is hugely tied up in the economic cycle, as consumers lacking confidence tend to defer such purchases. That said, Lookers does operate a sizable used car operation, which I suspect is markedly less volatile than that for new cars, and a parts division - which they say helps to smooth out the cycle somewhat, and is actually growing to account for a sizable amount of the group's profit.

My usual chart, highlighting the three main performance metrics, is impressive. While revenues have noticeably flattened out in the recession compared to their strong growth before (17% in '07, for instance), that they remained with only a minor drop is impressive given the consumer environment. The close relationship between revenue and operating profit on the graph also highlights the stability of margins - which have fluctuated between 2.2 and 2.6% for the last 5 years, with the exception being 2008 - which we'll forgive given the trends in that particular year! The last year also points towards another encouraging trend - increasing net profits while operating profits have stayed flat. This is particularly positive, as it hints at a double whammy for value investors. I should note at this point that figures used in the graph are all pre-exceptional and amortisation of intangibles, as I think it gives a fairer long-term comparison.

Since operating profit is simply net profit without the cost of financing and tax, and tax is (relatively!) consistent, that net profit is growing much quicker than operating profit hints at a lower overall interest bill - and that probably means they're shrinking their debt pile. Sure enough, as the graph below left shows, Lookers have put a good deal of their strong operating cash flow towards paying down their debt. The double bonus I talked about before is therefore both the reducing interest bill and the improved balance sheet, as in general higher debt levels associate with an increasing risk - it's like walking a tightrope with a smaller and smaller bar. You get less and less leeway before you fall to the crocodiles!

My warped view of circus performance aside, this year's interim management statement hints at a continuation of the trend we're already in - with revenues up 1.4% and profit before tax maintained at £21.3m vs. £21.4m last year. While those figures may seem to indicate a slow down, 2010 was an overachieving year - the Government's scrappage scheme had the effect of boosting revenues and profits. That those levels are now kept up without the scheme, then, is a ringing positive - indeed, the company reports the new car retail market had actually declined by 18.1% in the first half of the year. This only explanation is a continuing increase in market share. Also positive for market reception is the increase in dividend from 0.6p to 0.8p per share; if the company continues to By Crucible
12:52 22/08/2011 Edison Investment- Defying the market
Lookers (LON:LOOK) - Defying the market
Monday, Aug 22 2011 by Edison Investment Research
http://www.stockopedia.co.uk/research/defying-the-market-59375/
 http://www.edisoninvestmentresearch.co.uk/?ACT=18&ID=5669


Aug 22nd 2011 - Edison Investment Research today published a report on Lookers (LOOK.L, LSE:LOOK, LON:LOOK) entitled "Defying The Market". In summary, the report says:

Lookers has defied an 18% fall in UK retail car registrations, delivering unchanged profits in the first half of 2011; we remain confident that the group can again deliver record underlying pre-tax profits over the full year. The share price has fluctuated as a result of the recent unsuccessful takeover approach, the outcome of which may have undermined City confidence. At current levels the shares offer real value By SpikeyDT
13:44 17/08/2011 Lookers’ interim revenues reach £1bn
August 17, 2011 10:40 am

Lookers’ interim revenues reach £1bn

By Mark Wembridge

Money-conscious consumers opting to repair their cars rather than purchase a new vehicle have pushed interim revenues at Lookers through the £1bn mark.
The Manchester-based car dealer and parts supplier on Wednesday said that an improvement in sales at its vehicle parts division had offset a weaker performance at its motor division, which it blamed on challenging market conditions and poor consumer confidence.

“The parts division is of particular importance to the group as it is not subject to the fluctuations that can occur in the new car market and therefore generates earnings which are more resilient,” Lookers said.
“Furthermore, as the national market leader in this sector of the market, we are in a strong position to exploit future growth opportunities through the introduction of new products and services.”
At the group’s motor division, which comprises 119 franchise dealerships in 71 locations representing 33 brands, new retail car sales fell by 12.7 per cent to 17,746 in the period. Lookers said this fall beat a total market decline of 18.1 per cent – a figure that was distorted by the 2010 government car scrappage scheme.
However, Lookers was buoyed by a 5 per cent increase in used car sales to 21,744 vehicles in the half, although margins slipped by 3.4 per cent.
“These results should be considered against the background of the difficult trading conditions in the motor retail market and uncertain general economic conditions across the UK,” said Peter Jones, Lookers chief executive.
“The group’s performance represents a significant achievement against this challenging environment and is an encouraging first half performance.”
In the six months to June 30 revenues rose from £988.3m to £1bn, whilst pre-tax profit edged down from £21.4m to £21.3m. Diluted earnings per share rose to 3.96p (3.85p) and the interim dividend was boosted by a third to 0.8p (0.6p) per share.
On June 8, Lookers confirmed that it had received an 80p per share takeover approach from a consortium led by veteran investor Jack Petchey, which valued the group’s equity at £307m.
However, a few weeks later the takeover fell through after the offer was cut “to a level materially below that previously indicated of 80p per Lookers share”, the group said at the time.
John Stevenson, an analyst at Peel Hunt, cut back his full year profit forecast to £35.5m, but reiterated his “buy” recommendation on the shares, noting: “Cash generation is impressive, while the interim dividend has increased by 33 per cent.
“The order book for the key trading period of September is ahead of the prior year... we continue to expect Lookers to deliver profit growth for the 2011 full year.”
Shares in Lookers rose by 6 per cent, or 3p, to 53¼p in early London trading.


http://www.ft.com/cms/s/0/21d529e8-c8b0-11e0-a2c8-00144feabdc0.html#ixzz1VHlsP8Io By SpikeyDT
10:03 17/08/2011 Confident it can continue to grow the business
Lookers confident it can continue to grow the business
8:54 am by Giles Gwinnett
http://www.proactiveinvestors.co.uk/companies/news/32049/lookers-confident-it-can-continue-to-grow-the-business-32049.html
The company released its results for the first half to June 30 today, in which it said its motor division had provided a good performance in a difficult market
Motor retail firm Lookers (LON:LOOK) is confident it can grow the business, deliver satsfactory results for the year and significantly increase its dividend payments.

The company released its results for the first half to June 30 today, in which it said its motor division had provided a good performance in a difficult market.

Lookers reported a revenue increase for the period of 1.4 percent to £1 billion compared to £988 million in the previous year.

Pre-tax profit was maintained at £21.3 million compared to £21.4 million the year before.

Net debt was reduced by £25.6 million to £31.0 million, added the firm, and the interim dividend had been increased 33 percent to 0.8 pence per share compared to 0.6 pence per share last year.

Chief executive of the firm Peter Jones said: "We are pleased to announce that we have delivered a strong trading performance in the first six months of 2011.

"Our motor division produced a creditable result notwithstanding the weak new car market and the parts division produced another record trading performance."

He added that the operational cashflow for the period had been particularly positive and resulted in a strengthened balance sheet.

Looking ahead, the company said that it had recently carried out a detailed review of various strategic options and considered whether both a motor and a parts division was the optimum structure.

"We have concluded that the best strategy for the company at this stage is for it to continue to expand organically and to enhance this with meaningful and complementary acquisitions, in both the motor and parts divisions," said Lookers. By SpikeyDT
1:19 15/08/2011 The Scotsman..
It's looking good for Lookers as it defies slump
Published Date: 15 August 2011
By Scott Reid and Philip Whiterow
http://business.scotsman.com/business/It39s-looking-good-for-Lookers.6818682.jp

LOOKERS, the car dealership group that owns Scottish brand Taggarts, will this week come close to matching last year's first-half profits haul despite a gloomy industry backdrop. The firm has leant heavily on its parts and after-sales business to weather the impact of the economic downturn on new car sales.
Lookers, which operates 124 showrooms selling marques such as Ford, Vauxhall, Nissan and Toyota, has had to cope with a new car market that has fallen by some 18 per cent in the first six months of 2011.

It has also faced a takeover approach from ADVERTISEMENT

a consortium led by veteran investor and key shareholder Jack Petchey's Trefick group. Talks ended in June after the consortium lowered its original offer from 80p per share to 70p due to issues surrounding the values of freehold property and pensions.

Last month, Lookers, which moved into Scotland in 2003 with the purchase of Taggarts for £5.6 million, said trading had been solid despite the weakness of the car market.

Wednesday's interim figures are expected to be close to the record first half seen last year.

Lookers' parts division, which works with 2,500 suppliers through a number of UK sites, had a record three months to June. The Manchester-based firm had said previously the parts business was being helped by motorists focused on keeping their vehicles on the road in the current tough economic climate.

New car sales were down by 12.7 per cent but it continued to pick up market share. Used car sales increased by 5 per cent, while after-sales were also said to be on track with margins up on the previous year.

Mike Allen, an analyst at brokerage Panmure Gordon, expects interim profits of £22.5m against £22.7m a year ago, but Andrew Wade at Numis has edged down his full-year forecast due to concerns over the trend for both new and used car sales over the remainder of the year.
By SpikeyDT
17:21 22/07/2011 big buys
according to the Lookers site someone purchased 15m shares at 3.45 today and there has been a couple of other purchases of 1m + is someone else having a sniff now... By Carmanget