MARKET REPORT: Car dealer Lookers shares in overdrive

By Francesca Washtell5 days ago

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Investors rushed to snap up shares in Lookers after the car dealer said it would smash profit forecasts following a lockdown sales boom.

Sales were unexpectedly strong during the first three months of the year even though all the companys sites were forced to close.

Lookers shifted 44,000 cars through its online platforms and click and drive services.

In the same period last year almost all of which was before the first lockdown that took place on March 23 it sold 49,000.

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The surprisingly rip roaring trade during the first quarter means Lookers full-year profits will be materially ahead of City estimates of 22.6million.

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