Lookers Share Discussion Threads

[daz1712] 07/1/2021 10:09

Did anyone notice a new CFO was announced yesterday

[wobbly123] 07/1/2021 09:10

Jabers1 As you know that bet would have been illegal. You are all hot air.

Whatever anyone thinks my opinion is just that.

Who is or isn't in your words a nutter will be decided when/if trading resumes.

[jabers1] 07/1/2021 02:57

WOBBLY123 is an utter 🤡 🤡 🤡 I offered him a 20k bet that the price would finish higher than 21p on its first day trading and he bottled it.

He’s probably stuck at home most days wondering what it is like to lead a normal life.🤡

[wobbly123] 06/1/2021 18:43

mark204. It is my opinion and can't be utter nonsense unless you can PROVE I am wrong.
Try thinking before posting.

[mark204] 06/1/2021 18:17

"sub 5 on re-opening", how can you seriously post such utter non-sense?

[essentialinvestor] 06/1/2021 11:59

Matts car reviews are really good on Carwow.

[wobbly123] 06/1/2021 11:49

Loads 2. 14% is about the max dealers get from manufacturers, so selling at cost.

[loads2] 06/1/2021 11:36

To disect the SMMT Commentary:

"The car industry has become highly politicised with the rollout of vaccines, and our relationship with the EU coins the political phrase of the moment that we must make 2021 a year when we 'build back better'.

We will work with government to encourage drivers to make the political switch (to e-vehicles) while promoting politically controlled global supply chains for the global institutions and the likes of Bill Gates.

Recharging the world economy is needed to enact the Great Reset of totalitarian feudalism as sponsored by the World Economic Forum in response to the Global Pandemic."

I never realised the car industry has become so intertwined with global politics.

Anyway enough of that, I just had a fab offer on car wow for a new car. 14% off the list price off an F Type - 300bhp petrol but they do even more enjoyable ones with a lot more HP and bigger engines even worse for the environment but so much more fun I guess.

Lookers plc will come back but the margins are gonna get a lot tighter and more politically determined.

[wobbly123] 06/1/2021 10:27

sub 5p on re-opening

[mortimer7] 06/1/2021 09:20

This morning the SMMT has published the numbers for UK new car registrations for December. Total registrations were 132,682, a reduction of 10.9% on Dec '19 total of 148,997.
Total figure for 2020 is 1,631,064 vs 2,311,140 last year.

SMMT revised their 2020 forecast in July this year to 1,603,000, so H2 has turned out just slightly better than expected.

SMMT Commentary "with the rollout of vaccines and clarity over our new relationship with the EU, we must make 2021 a year of recovery. With manufacturers bringing record numbers of electrified vehicles to market over the coming months, we will work with government to encourage drivers to make the switch, while promoting investment in our globally-renowned manufacturing base – recharging the market, industry and economy".

[loads2] 09/12/2020 21:43

I believe the interim CFO Jim Perrie has done a dreadful job. IMHO the CFO should have spent the year sorting stuff out and delivering and if he had done so he would have been appointed to the Board but the Board presumably didn't have confidence in him and he seems to have left the business suddenly.. I believe the CFO has let down the CEO.

[diku] 09/12/2020 20:30

All this high profile job titles of CEOs and CFOs but it all depends on how much hard work and long hours they are willing to put in...or merely really on others to do the chasing up work...

[daz1712] 09/12/2020 20:13

All the country in lockdown, sites shut for months on end, the investigation from the previous running of the company, accountant resignations from future dealings with the business
I can’t believe the new CEO and CFO have done such a bad job

[loads2] 09/12/2020 19:26

The new management team has been in situ most of 2020, the CFO since Feb i believe so they have had plenty of time.

[daz1712] 09/12/2020 19:19

Take that up with the previous man in charge and majority shareholder, the batten is passed on the last leg but you can’t blame the last runner for coming in last

[effortless cool] 09/12/2020 18:27

Daz1712,

"annoying and unprofessional to promise these results when it was out their hands to deliver"

It was not "out of their hands". The interims are not audited, so it was very much in their hands. They have simply screwed up (yet again).

[diku] 09/12/2020 18:15

Is this a classic example of CFO out of touch with reality on the shop floor?...

[daz1712] 09/12/2020 18:05

Can’t see a problem with today’s announcements, annoying and unprofessional to promise these results when it was out their hands to deliver, but not a shock or unexpected.
Who knows what the opening price will be, surely it’s can’t trade on the LSE without been a going concern, this will first have to be resolved by the banks to give their support.
Once a going concern is agreed the company will apply to begin trading on the exchange again. To me if this happens then the price will reflect the long term profitability of the group on the opening day, which will be well above 10p.

[wobbly123] 09/12/2020 16:48

10p seems a bit far fetched unless it was on the verge of going bust. 10p might get hit during the morning if it opens up down but I do not think it would finish around there.

Going below 10p is fine by me.

Jabers1 still up for it if your pocket money extends that far and you are legally old enough to participate i.e. over 18

[karv1] 09/12/2020 16:38

10p seems a bit far fetched unless it was on the verge of going bust. 10p might get hit during the morning if it opens up down but I do not think it would finish around there.

[jabers1] 09/12/2020 11:45

Wobbly the 🤡🤡🤡🤡9313; returns. My offer of 25k wager still stands you 🤡🤡🤡🤡9313;

[wobbly123] 09/12/2020 11:22

Alternatively if your 10p is correct, then at such a low value it might make sense for management to do a buyout themselves and run as a non listed business perhaps financed by private equity

Would take someone very brave to finance it, considering it's history, FCA,Brexit, Pandemic, Electric Vehicles etc etc.

[loads2] 09/12/2020 10:35

They need to refinance the business and find someone to merge with.

Alternatively if your 10p is correct, then at such a low value it might make sense for management to do a buyout themselves and run as a non listed business perhaps financed by private equity

[wobbly123] 09/12/2020 09:44

Sub 10p when opens.

[loads2] 09/12/2020 09:20

Jim Perrie Interim CFO Lookers PLC seems to have been overpromising and under delivering a lot

Jim Perrie Interim CFO Lookers PLC maybe rightfully sacked by the Board for incompetence...

Hope things get better when Lookers plc get a better CFO than Jim Perrie

I also think Lookers PLC should place more emphasis on straight talking instead of using technical accounting detail to blur what is really going on.

I suspect the continued delay to release H1 2020 is because the fraud issue has not yet been properly dealt with.