		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/lookers-lifts-profits-guidance.jpg"><img class="alignnone size-full" title="Lookers said full-year profits were expected at the top end of City forecasts" src="http://londonglossy.com/wp-content/uploads/2011/01/min-lookers-lifts-profits-guidance.jpg" alt="Lookers said full-year profits were expected at the top end of City forecasts"/></a></p>
<p>Car dealership Lookers has said full-year profits were expected at the top end of City forecasts as trading in its spare parts division continues to storm ahead.</p>
<p>The Manchester-based firm said the parts business improved profitability in the final quarter, boosted as motorists focused on keeping their vehicles on the road in the current economic climate. </p>
<p>Lookers said the parts division, which works with 2,500 suppliers through 20 UK sites, made &#8220;a significant contribution to group earnings&#8221;.</p>
<p>The group lifted its profits guidance despite a year of difficult trading conditions including the end of the Government&#8217;s scrappage scheme which propped up the car market during the worst of the recession.</p>
<p>The market is currently forecasting Lookers&#8217; profits to be between £31 million to £34 million.</p>
<p>Shares in Lookers rose 3% after it said new car sales were ahead of the wider market, with like-for-like sales for the year up 3.8% against a 5.6% market decline. Used car sales volumes had also recovered to 2009 levels, the company added.</p>
<p>Mike Allen, analyst at Panmure Gordon, said: &#8220;For 2011 we assume modest growth against 2010, but remain cautious given the uncertain consumer environment and the impact this could have on its new and used car business.</p>
<p>&#8220;However, Lookers is more defensive than its peers given its above average exposure to parts and aftersales and so we would expect it to fare relatively well if trading conditions did get more difficult.&#8221;</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-68edfce18f020">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-68edfce18f020',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
