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Lookers (LOOK)

Business description

Lookers is a leading UK motor vehicle and specialist parts distributor. It operates 155 franchises, representing 32 marques spread across the UK.

Stock data

Market cap.£418.3m
Last close106.00p
High / Low (52 weeks)120.0p / 82.0p
Stock market listingLN
Forecast net debt (£m)64.1
Forecast gearing ratio (%)16
TeamIndustrials
SectorAutomotive Retailers

Price performance

%1m3m12m
Actual1.515.5(2.5)
Relative *1.89.6(6)

* % Relative to local index

Other companies in sector Show

Company news

Lookers motors higher as it reports strong first quarter, despite stalling ...

Tue, 15 May 2018 09:09:00 GMT

Benfield Motor Group acquired by Lookers plc for £87.5m in cash

Thu, 03 Sep 2015 07:39:17 GMT

Vertu acquires three Honda dealerships from rivals Lookers Plc for £2m

Mon, 25 Jan 2016 08:52:46 GMT

Lookers warns over British car sales

Wed, 16 Aug 2017 12:33:14 GMT

Lookers plc drives turnover up 15% despite new car market dip

Wed, 07 Mar 2018 07:52:30 GMT

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2016A 4088.2 97.6 64.9 13.13 8.1 3.2
2017A 4696.3 105.4 68.4 14.14 7.5 6.4
2018E 4743.9 103.8 67.7 13.71 7.7 3.4
2019E 4884.5 106.3 70.4 14.46 7.3 3.9

Last updated on 21/06/2018

Investment summary

Following another record year of performance in FY17, Lookers has continued to outperform in Q118. Market conditions remain challenging in new car sales, however the used car market remains buoyant and growth is visible in aftersales. Management is pursuing its strategy of focusing on the right brands in the right locations supported by appropriate levels of investment. We expect this to continue with a remaining proactive focus on costs. Comparatives should ease as FY18 progresses.

Last updated on 29/06/2018

Industry outlook

Market dynamics favour larger motor dealership groups against smaller independent groups, which still command c 60% of the franchise market. Global manufacturing overcapacity still points to OEM support, although stockmarket confidence is undermined by the inflationary impact of weak sterling on new car prices and interest rates. A 35% rating discount relative to the FTSE All-Share General Retailers Index fails to recognise the defensive qualities across a sector where used vehicle and aftersales activities account for the majority of profits.

Last updated on 29/06/2018

Key management

Phil White, Chairman
Andy Bruce, CEO
Robin Gregson, FD

Company address

776 Chester Road
Stretford
Manchester
M32 0QH
United Kingdom
+44 (0) 161 291 0043
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