Lookers results motor ahead
Thursday 19 August 2010
A surge in demand for spare parts increased profits at the car dealership Lookers by 29 per cent to a record £22.7m in the first half.
With motorists more inclined to try to keep older cars on the road, Lookers' parts distribution division, including FPS, saw profits rise by 21 per cent to £5.2m. Group turnover rose 13 per cent to £988m in the six months to 30 June.
The Manchester-based company said its parts unit, which works with 2,500 suppliers, helped to offset a tough market for new and used car sales. The record performance came despite the end of the Government's vehicle scrappage scheme, which propped up the car market during the downturn.
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