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Lookers To Cut About 1,500 Jobs
Lookers Plc Says Tony Bramall Indicates To Step Down As Non-Executive Director
Lookers Sees Material Underlying Pretax Loss In H1
Lookers plc operates as a motor retail and aftersales company in the United Kingdom. The Company operates through two business segments: motor distribution and parts distribution. The motor division consists of over 150 franchised dealerships representing over 30 marques from approximately 100 locations. Aftersales represents the servicing, repair and sale of franchised parts to customers' vehicles. Its parts division operates in the independent aftermarket sector of the United Kingdom's motor retail market, where it operates through three operating companies: FPS, Apec Braking and BTN Turbo. FPS is a warehouse distributor of automotive parts. Apec Braking is a provider of dry braking (pads and discs). BTN Turbo is a distributor of turbochargers and supplier of related value added services. Its operations are also carried out across Ireland. It sells approximately 180,000 new and used cars and vans per year. In addition, it has an independent parts distribution business.
3 Etchells Road, West Timperley
Phil M. White
Executive Chairman of the Board
Mark Douglas Raban
Chief Executive Officer
D. C. Anthony Bramall
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Auto retailer Lookers Plc reported a full-year loss on Wednesday due to car dealership closures during the COVID-19 pandemic and said it had started a restructuring plan, resulting in about 1,500 job cuts.
Car dealership network Lookers Plc <LOOK.L> expects to see its shares suspended in July due to further problems with publishing its annual accounts after an investigation into irregularities at some operations, it said on Monday.
British auto retailer Pendragon Plc <PDG.L> said on Monday it was no longer exploring merger talks with rival Lookers Plc <LOOK.L>, after a media report over the weekend said that Lookers rejected its approach.
British auto retailer Pendragon Plc confirmed media reports on Monday that it held talks with rival Lookers Plc to explore a merger but the company said the discussions had now ceased.
* LOOKERS PLC - IN TWO-MONTH PERIOD ENDED 29 FEBRUARY 2020 PRIOR TO IMPACT OF COVID-19, GROUP RECORDED A LIKE-FOR-LIKE DECLINE IN NEW VEHICLE UNIT SALES
* LOOKERS PLC - GROUP IS TEMPORARILY CLOSING ALL OF ITS TRADING LOCATIONS WITH IMMEDIATE EFFECT
Car dealership Lookers Plc <LOOK.L> on Wednesday posted a steep drop in first-half profit and said it sees higher costs over the next several years, as it carves out a plan to fix some issues it found in its sales practices.
Car dealership chain Lookers Plc on Wednesday said it would make a one-time cash investment of about 10 million pounds ($12.06 million) over 2019 and 2020 to fix some issues it had identified in its sales practices last year.
British car dealership Lookers <LOOK.L> warned on full-year profit on Friday, saying trading was increasingly challenging and prompting a 30% fall it its already weak shares.
Car dealership chain Lookers Plc said on Friday it anticipates full-year underlying pretax profit below its expectations as it battled weaker car demand in Britain in June and margin pressures.
Car dealership chain Lookers Plc <LOOK.L> said on Friday Chief Financial Officer Robin Gregson would step down after 10 years in the role and be replaced by retail veteran and former finance chief of Marshall Motor Holdings Plc <MMHM.L> Mark Raban.
Car dealership chain Lookers Plc said on Friday Chief Financial Officer Robin Gregson would step down after 10 years in the role and be replaced by former finance chief of Marshall Motor Holdings Plc Mark Raban.
Shares in Lookers Plc slid to their lowest in over seven years on Tuesday after the car dealership said Britain's financial watchdog is investigating its sales processes over the last three years.
Lookers Plc said on Tuesday that the UK's Financial Conduct Authority is investigating the British car dealership chain's sales processes, sending the company's stock over 20% lower.
** Shares in British car dealership chain Lookers Plc up about 1%
British car dealership chain Lookers Plc on Wednesday reported a 1.6 percent fall in full-year adjusted pretax profit, hit by slowing sales of new cars and higher costs.
British car dealership chain Lookers Plc on Wednesday reported a 1.6 percent fall in full-year adjusted pretax profit, hurt by lower sales of new cars in the UK and higher costs.
Lookers Plc <LOOK.L>, Britain's largest car dealer, reported a 2.7 percent rise in annual profit on Wednesday despite the overall new car market shrinking for the first time since 2011.
British car dealer Lookers Plc reported a 2.7 percent rise in 2017 profit, with growth seen across all its businesses particularly its used car segment.
* WILL COMMENCE TO PURCHASE ORDINARY SHARES OF 5 PENCE EACH IN COMPANY FOR AGGREGATE PURCHASE OF UP TO £10 MILLION
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.