Lookers turned in a strong performance in 2013 with pre tax profits up 27.9% to £43.9m on turnover up 19.4% to £2.46bn.

Retail new car sales rose 19%, outperforming the overall UK retail market, which rose 15.6%. In the fleet sector, Lookers’ volumes fell by 3% as the company pulled away from low margin business.

Whilst volumes were lower, overall gross profit from fleet business increased in the year. The overall UK fleet sector rose 6.7% Gross profit per unit on new retail cars rose 6.5% compared to the prior year, whilst gross profit per unit on fleet business increased by 10%. Whilst used car transactions in the UK were static Lookers sales rose 20% and gross profit per unit increased by 3.6%.

Lookers said its website was helping to drive used sales and generating 20% more leads than a year ago. The group is extending its hours to include live chat and increasing its use of video and social media. Lookers’ parts division saw pre tax profits up 6% to £11.1m Lookers said its order take for March was tracking ahead of plan.

Lookers chief executive Andy Bruce said: “Lookers is well placed to take advantage of future growth in the new and used car markets and increased demand for aftersales and parts which gives us further confidence that we can continue to grow the business in 2014.”

original story taken from Motor Trader – http://www.motortrader.com/industry-news/lookers-full-year-profits-rise-28-48-1m/