Lookers PLC Update on 2020 Results (6339S)
March 18 2021 - 2:00AM
UK Regulatory
TIDMLOOK
RNS Number : 6339S
Lookers PLC
18 March 2021
18 March 2021
Lookers plc (the "Group")
Update on 2020 Results
Lookers plc, one of the leading UK motor retail and aftersales
service groups, provides the following update.
Work continues in line with plan on the Group's financial
statements for the year ended 31 December 2020 and the Group now
expects to report underlying profit before tax of approximately
GBP10m (2019: GBP4.2m). This compares to analyst consensus of a
small loss. As previously reported, the Board expects net debt of
approximately GBP45m at 31 December 2020 (2019: GBP59.5m).
The Group's revolving credit facility expires in March 2022 and,
as previously disclosed, discussions with our banking partners are
progressing. Net debt has significantly reduced since the year
end.
In April, the Group will issue a trading statement for the first
quarter of 2021 and confirm the dates of its preliminary results
announcement and AGM.
The audit of the Group's financial statements for 2020 is being
undertaken by the Group's new auditor, BDO LLP, and is progressing
as planned.
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) No 596/2014. The
person responsible for making this announcement is the Company
Secretary.
ENDS
Enquiries
Lookers Tel: 0161 291 0043
Philip Kenny
Company Secretary
MHP Communications Tel: 07709 496 125 / 020 3128
8193
Tim Rowntree
Simon Hockridge
Alistair de-Kare Silver
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END
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