Pretax profit for the car retailer and distributor in the six months to
The higher profit pushed the group to hike its interim dividend by 10% to
The performance was driven largely by the group's motor division, consisting of 127 franchised dealerships, which increased pretax profit in the first half by 43% to
In its new cars arm, the company said core retail new car sales were up 15% year-on-year, with gross profit per unit on those sales rising 5%. It also saw volumes in the fleet sector rise 19% on the back of investment in the business, with profits per unit in that unit slightly higher too.
Used car sales volumes were up 5%, with gross profit per unit up 7%, while revenue in its aftersales business was up 6%. Its parts division also grew revenue by 6%, with pretax profit rising 5% to
"Lookers is well placed to take advantage of further growth opportunities in the new and used car markets and increased demand for aftersales and parts," said Lookers Chief Executive
"This gives us confidence that we can continue to grow the business and deliver improved results for the full year," Bruce added.
Lookers shares were up 1.9% at
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