Business is booming at Lookers Plc / Charles Hurst

Major UK dealer group Lookers Plc, which trades as Charles Hurst in Northern Ireland, with 22 different vehicle franchises including Audi Dublin in the Republic had revenues of £2.46 billion and profit before tax of £48.1m last year.

Lookers Plc has posted results for Q1 and according to its interim management statement, their aftersales business increased turnover by 9 per cent on a like-for-like basis compared to last year as well as increasing the margin. It appears that it benefited in part from the growth in the vehicle parc of cars under three years old. It has posted a 25 per cent like-for-like  increase in new car sales during Q1.

The group’s aftersales departments also benefitted from a focus from the group on selling service plans to commit customers to longer term contracts for servicing.

The parts business also made good progress with revenues up 6% following a period of weaker comparatives and margins maintaining through overhead cost control.

Lookers Plc management aftersales bias to the business and further recovery in the UK new car market, creates a positive environment for further growth.