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Lookers tries to defy the odds

Lookers tries to defy the odds

It’s a tough time for motor retailers, with new car sales in the doldrums and the ripple effects of 'diesel-gate' still in evidence. But analysts commended Lookers (LOOK) for reporting sales and gross profit growth across new cars, used cars and aftersales against a tough market backdrop last year. That said, “record” adjusted pre-tax profits of £68.4m still fell short of expectations, so the broker downgraded forecasts for the current financial year, and now expects pre-tax profits of £67.2m and EPS of 13.4p, from £66.7m and 13.7p in 2017.

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