Lookers 1H Pretax Profit Fell Slightly on Higher Costs; Reinstates Dividends

By Joe Hoppe

Lookers PLC said Wednesday that first-half pretax profit slipped slightly on increased costs and net operating expenses, though revenue rose and it reinstated interim dividends.

The London-listed motor-and-aftersales service group said it made a pretax profit of 49.9 million pounds ($59.1 million), down from GBP50.4 million for the same period a year earlier.

Revenue rose to GBP2.30 billion from GBP2.15 billion, driven by increases in used vehicles and aftersales, Lookers said. The company outperformed the U.K. new retail car market by 1.7%, it said.

The board reinstated interim dividends at 1.0 pence a share.

Performance in July and August has met the company’s expectations, margins remain in line with the first half and it maintains a stronger order book for the remainder of the year, it said.

Write to Joe Hoppe at joseph.hoppe@wsj.com

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