Bosses at Lookers (LOOK) couldn't be happier with the way things are going. Finance director Robin Gregson says the auto sales group achieved a good performance "across the board" during the first half, adding the balance sheet hasn't been in such good shape "for many, many years".
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These comments do not overstate the case. Car sales are a barometer of the wider UK economy, and in this strengthening recovery more people are picking up a fresh set of wheels. Increased sales of new and used cars sent Lookers' revenue up 9 per cent in the first half. That provided adjusted pre-tax profit of £43m, up 7 per cent year on year.