Lookers (LON:LOOK) - Good start to 2013
Mar 18th 2013 - Edison Investment Research today published a report on Lookers (LOOK.L, LSE:LOOK, LON:LOOK) entitled "Good Start To 2013". In summary, the report says:
Lookers has continued its impressive growth record, with record pre-tax profits for the fourth successive year, despite the fact that UK new vehicle registrations are running 20% below their 2003 peak. We cautiously forecast low single-digit earnings growth, although we believe the company has successfully addressed first-half issues in the Parts division. The share price has performed strongly over the past six months, in line with the sector, although we believe Lookers’ 2% premium to the peer group’s 2013 P/E rating is justified by its exposure to the higher margin aftermarket.
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »
