Page 5 - Mark Raban News Today

Investegate announcements from Lookers PLC, Grant of LTIP share options

Lookers has raised its 2022 full-year profit expectations to over £80 million and revealed plans to add further to recent new car franchise additions Lotus Cars and Ora.

Richard Blumberger has left Marshall Motor Group seven months after the AM100 motor retailer's acquisition by Constellation Automotive Group and the exit of its chief executive Daksh Gupta.

Lookers chairman Ian Bull has said that he is “sorry” to be stepping down from his role with the car retail PLC at the end of this year.

Investegate announcements from Lookers PLC, Launch of Share Buyback Programme

Lookers today increased its pre-tax profit expectations for the year to at least £75m – a drop on last year's £90.1m. In a trading update to the London

Lookers increased its full-year profit expectations to £75 million and kicked-off a £15m share buyback programnme after reporting strong performance in a Q3 trading update.

The motor dealership chain now expects underlying pre-tax profits to be at least £75million for the current financial year thanks to strong vehicle gross margins.

Great Wall Motors’ (GWM) Ora electric vehicle (EV) brand has appointed Lookers as its first car retail franchisee in England.

Robin Churchouse has been appointed chair of the board of Lookers Motor Group, effective from September 13, subject to regulatory approval.