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Share Name Share Symbol Market Type Share ISIN Share Description
Lookers Plc LSE:LOOK London Ordinary Share GB00B17MMZ46 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.30 0.47% 64.10 198,382 16:35:28
Bid Price Offer Price High Price Low Price Open Price
63.30 63.70 65.80 62.80 63.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 3,699.90 2.00 -1.05 250
Last Trade Time Trade Type Trade Size Trade Price Currency
17:22:41 O 39,804 64.10 GBX

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Lookers (LOOK) Top Chat Posts

DateSubject
23/7/2021
09:20
Lookers Daily Update: Lookers Plc is listed in the General Retailers sector of the London Stock Exchange with ticker LOOK. The last closing price for Lookers was 63.80p.
Lookers Plc has a 4 week average price of 57.80p and a 12 week average price of 57.80p.
The 1 year high share price is 73.30p while the 1 year low share price is currently 30p.
There are currently 390,475,317 shares in issue and the average daily traded volume is 448,421 shares. The market capitalisation of Lookers Plc is £250,294,678.20.
17/7/2021
06:01
tole: https://www.fool.co.uk/investing/2021/07/16/2-uk-shares-to-buy-today-at-a-discount/When it comes to the car dealership Lookers (LSE: LOOK), the only discount a lot of people might hope for would be on a vehicle they're buying. But Lookers shares also trade at a discount, in this case to the value of its property portfolio.The current market capitalisation of Lookers stands at £250m. By contrast, its property portfolio was valued at around £300m according to the company's annual results published this month. On top of that, the company is also sitting on net cash of £18m.UK shares to buy today: LookersLike Galliford Try, Lookers trades at a discount to key parts of its balance sheet – but it is also attractive as a business to me. As one of the UK's largest car dealerships, it is benefitting from a release of pent-up demand for car purchase. The board said this month that it remains confident about the outlook for 2021, in the absence of negative impact from pandemic restrictions or car supply issues.Those are risks, admittedly. Also, some customers may still be wary of Lookers after a previous accounting scandal damaged its reputation.But I am happy to hold it in my portfolio and would consider adding more of these shares while they trade at a discount to the company's property portfolio.
26/5/2021
14:40
jabers1: ZEUS CAPITAL PRICE TARGET £1.06 TO £1.85 26 May 2021 Lookers Plc* LOOK LN General Retail Another forecast upgrade Just seven weeks on from its positive Q1 trading update, Lookers has had to raise guidance again following stronger than expected trading in April. It has also successfully renegotiated its banking facilities. The group’s strong trading performance should help continue the restoration of its reputation among investors and raises the possibility of a resumption of dividend payments. We believe the risk/reward remains positive. § Strong momentum: the latest trading update says “trading across the group has been strong” since the reopening of its dealerships on 12th April. New car sales are up by 26.6% on a LFL basis for the four months to 30th April 2021. While this is against a weak comparison (with the UK in lockdown from 26th March 2020) it shows strong outperformance against the market, with SMMT registrations up 16.2% in the same period. Used car unit sales (+32.5%) and aftersales revenue (+25.4%) were also showed good growth; the weak comparison was a factor, but the figures also reflect a strong operational performance during the latest lockdown. § Profits impact: On the back of the solid four-month performance, Lookers “now expect underlying profit before tax for 2021 to comfortably exceed current market consensus”. To reflect this, we increase our 2021 forecast from £34m to £39m (+15%) on the company’s calculation basis and to £40.2m on our basis, which adds back the charge for share-based payments. For 2022, we increase our forecast from £48.1m to £51.9m (+7.9%). § Cashflow: the statement also reveals that net debt (excluding lease obligations) is only circa £4m at present. This demonstrates a strong performance in the last four months as it compares with circa £45m (already disclosed) at the end of 2020. The group has renewed its revolving credit facilities with its existing banking club with a current size of £150m and maturity on 30 September 2023. § Potential Dividends: Our revised profit projection gives EPS of 8.3p (2021) and 10.6p (2022). This healthy performance, reduced debt levels, improved internal controls and the resolution of the FCA issues raises the possibility of a resumption of dividends. We are likely to find out more about this when FY20 results are released, anticipated to be towards the end of June. § Investment view: Despite the strong share price performance YTD, the valuation remains undemanding in our view trading on a 2021E P/E of 8.4x falling to 6.5x. We remain comfortable with our blue-sky EPS scenario of 13.2p and based on a P/E multiple range of 8-14x suggests a value range of 106-185p per share suggesting a positive risk/reward from here.
25/5/2021
07:10
jabers1: https://uk.advfn.com/stock-market/london/lookers-LOOK/share-news/Lookers-PLC-Trading-Update-and-Notice-of-2020-Resu/85195230
22/4/2021
08:50
woodwards26: Post not mine from 10 yrs ago when Tony Bramhall bought in when he basically stopped a takeover at a bid if substantially under 80p .Big purchase by Tony Bramall....hopefully his confidence is not misplaced, and the share price will respond positively tomorrow!The Board of Lookers plc ('Lookers' or 'the Company') was today notified that on Friday 19 August 2011, the family interests of Mr Tony Bramall, a non-executive director, acquired a further 3,800,000 Lookers ordinary shares of 5 pence each ("Ordinary Shares") at 50 pence per share and on Monday 22 August acquired a further 93,000 Ordinary Shares at 50.75 pence per share.Mr Tony Bramall and his family interests are holders of 89,337,637 Ordinary Shares representing 23.29% of the existing issued share capital of the Company. The issued share capital of the Company at 22 August 2011 is 383,661,508 Ordinary Shares.
09/3/2021
10:52
sphere25: Well, I have been watching the trades here and the large buyers mopping up all sellers at these levels, even if they stick a large order on the book. Followed them in and bought, just added a few more now. Thank you to Jabers1 for posting the broker note in post 2491 and 2492. Those are well worth a read and paint a nice picture for market participants. It is the numbers attached to the earnings recovery here that look interesting: "This should result in a strong recovery in profits once lockdown ends and demand recovers; we expect PBT of £26.0m in 2021 and £43.8m in 2022 giving EPS of 5.3p followed by 9.0p. This should enable a return to dividend payments – perhaps up to 3p for 2022 – although this is not yet in our forecasts." "At today’s share price of 41.8p, this would put the shares on a PE of just 4.7x to December 2022 while a 3p dividend would give a yield of 7.2%. The shares also have considerable asset backing; property portfolio per share was 80.4p at 30th June 2020 and NAV per share was 63.6p." The asset backing and potential dividend clearly help but the high leverage must absolutely be taken into consideration too. I have ignored the bluesky earnings and re-rating potential, even though it doesn't sound outlandish. Overall though, I think the market can look past the leverage and re-rate the shares substantially higher if they get anywhere near those profit numbers. VTU is the one that I have posted on more often in dealerships. It is a more comfortable holding (and a great trading share) but the market has been happy to bid up PDG and is the type of market where LOOK (even though nowhere near as speculative as many) could get re-rated quite rapidly. The price does have a tendency to move sharply once sellers are cleared and clearly there is significant demand for shares at these price levels. It wasn't easy buying this morning too so unsure if the supply of shares is close to being exhausted at these levels. Price is currently close to a breakout so happy to ride any short term momentum higher here but will keep a tabs on the updates too as the longer term upside could clearly be alot more significant. All imo DYOR
08/3/2021
07:29
jabers1: Lookers PLC Appointment of Non-Executive Director 08/03/2021 7:00am UK Regulatory (RNS & others) Lookers (LSE:LOOK) Intraday Stock Chart Monday 8 March 2021 Click Here for more Lookers Charts. TIDMLOOK RNS Number : 3940R Lookers PLC 08 March 2021 8 March 2021 Lookers plc Appointment of Non-Executive Director Lookers plc, ("Lookers"), one of the leading UK motor retail and aftersales service groups, is pleased to announce the appointment of Paul Van der Burgh to the Board of Lookers as a Non-Executive Director. Paul will join the Board on 1 April 2021 and will be a member of the Audit and Risk, Remuneration and Nominations Committees. Paul is highly experienced in the global automotive industry, having held senior executive positions at leading multinational brands around the world for over 35 years. He spent 15 years at Toyota and Lexus, most recently as the President and Managing Director of Toyota (GB). Prior to this, Paul held a variety of roles at Ford in the UK and the Americas. Paul has also been an Executive Director of the Society of Motor Manufacturers & Traders. Phil White, Chairman, commented: "We are absolutely delighted that Paul will be joining the Lookers Board next month. His track record at both Toyota and Ford speaks for itself. He is well known and highly respected throughout the motor industry for all he has achieved in his career. His in-depth understanding of our industry, combined with his extensive experience, will be a great asset to Lookers as we continue to lift the brakes on the business and look forward to the multiple opportunities ahead. Paul's experience and guidance will be invaluable to us on that journey." Paul Van der Burgh commented: "I am thrilled to be joining the Lookers Board at a very exciting time for the business. Having spent most of my career with major global manufacturing brands, I really appreciate the importance of a strong, well located dealership network. I am also well aware of the changing dynamics in the market, not least through electrification and digitisation, where Lookers can further enhance its proposition and prosper in the current environment." There is no information in respect of Paul Van der Burgh which would require disclosure under Listing Rules 9.6.13(1) to 9.6.13(6) inclusive.
01/3/2021
11:32
jabers1: Investment case summary ▪ Following an extremely difficult period for Lookers over the last 18 months, we believe it is over the worst and is back on the road to recovery. While the market backdrop will remain challenging, we believe the Group is a position to move forward from the legacy issues and refocus on the strategic priorities for the future. ▪ The implied H2 2020 performance gives us comfort that the strategic plan and cost initiatives are working. Lookers announced an adjusted loss of £36m in H1 and is expected to be broadly break even in FY 2020E (we are forecasting a small loss of £1.0m). This implies a H2 profit of £34.5m, although we do acknowledge there was Government stimulus on costs (business rate relief and furlough) to support this outcome. We believe this improvement has not just come from annualised payroll savings of c.£50m but also lower investment in used car stock levels (c.£145m in H1 2020A from £240m in FY 2019A) as well as higher levels of stock turn running at 35-40 days vs. 55-60 days before. ▪ The near-term outlook is likely to remain challenging across the sector, albeit Lookers has used COVID-19 as a catalyst for significant change. Although new coronavirus infections and deaths falling rapidly in the UK and vaccination levels are progressing well, the roadmap out of lockdown 3 is cautious with motor dealerships not fully reopening until 12 April 2021. As a result, sales volumes in March – when the new 21 registration plate comes in – are still likely to be weaker than normal as restrictions are likely to be in place. That said, as we saw last year, once dealerships are allowed to be fully open, pent up demand could re-emerge post-March with data from Auto Trader pointing towards strong interest levels in new cars. Used car margins have remained strong in what we see as a supply constrained market. ▪ The shares have considerable asset backing, with property assets per share of 80.4p as at 30th June 2020 and net assets per share of 63.6p at the same date. Both figures are far in excess of the current share price due to the company’s poor recent results and the lack of internal controls that led to the restatement of its 2018 figures and its run-in with the FCA. ▪ Lookers has already disclosed that net bank debt (which excludes IFRS 16 property leases and vehicle rental lease liabilities) was approximately £45 million at the end of 2020. This compares with £59.5 million at the end of 2019 and £11.0 million at the end of June 2020. Property lease debt was £135.8 million at 30th June 2010 and vehicle rental lease liabilities were £87.6 million giving total net debt of £234.4 million. In addition to this, the group had a deficit on its defined benefit pension schemes of £69.5 million at the end of June 2019 and the “subsequent events” section of its 2019 Annual Report (published on 30th November 2020) discloses that it will step up its deficit reduction payments from £9 million to £12 million a year, we presume from 2021 onwards. There is a provision of £10.4m for the FCA fine on top of this as well. Consequently, there is no doubt that Lookers has high levels of leverage to contend with at present. ▪ To balance against these risks, we also look at the potential earnings upside if Lookers is able to navigate through this and indeed market conditions improve as we enter in 2022/23 and the impacts of COVID-19 start to recede. Looking further ahead, we believe Lookers is capable of re-emerging as a £5bn revenue group, driven in part by expanding its portfolio with Japanese brands following restructuring, as has been previously mentioned by the group. We have assumed a gross margin of 11.5%, with operating expenses as a % of revenue remaining below 10%. On that basis we can see Lookers achieving a PBT north of £60m, albeit the market would need to be in full recovery mode for this to be achieved. From an EPS perspective this would equate to 13.2p (vs. our 2022E forecast of 9.0p) and implies a P/E below 3.2x at current share price levels. To look at this another way, on a typical mid cycle P/E of 14x, this would equate to 184 per share. ▪ Based on our blue-sky EPS on Exhibit 1 and assuming a P/E multiple range of 8-14x, would suggest a value range of 105-184p per share. Our working (below) shows this analysis discounted back by 5 years to give range based on discount rates ranging from 5-20%. To get back to the current share price based on this analysis implies a mid-cycle PE of 10x discounted by 15%.
02/2/2021
13:13
jabers1: LOOKERS BROKERS NOTE Lookers has published interim results for the six months ended 30 June and has applied to the FCA to restore its share listing. The interim loss of £36.1m is much better than our £50m forecast loss, driven by a marked improvement in working capital efficiency and gross margin. With significant cost reductions (£50m annualised payroll cost), H2’s profit will almost offset the H1 loss, we upgrade from c.£20m loss to a c.£4m loss. With significant operational improvements and lower debt levels, Lookers looks well placed for recovery. We set a 75p 12 mth TP, expecting the shares to quickly reset from FY21 PER of 4.5x. Interim results show Covid impact. With H1 sales down 40% as UK new car registrations fell by c.49% over the period, Lookers reported an Adj loss of £36m, actually much better than feared (PHe -£50m), with the outperformance driven by stronger gross margins. H1 net debt improved to just £11m (Dec 19 £59.5m). Substantial operational improvements. Towards the end of FY19, Lookers was carrying stock of £240m, average used stock levels are now c.£145m. This has not had an impact on sales volumes; average stock turn is 35-40 days rather than the 55-60 days before. Previously c.30% of stock was over 60 days old, vs 6-7% of stock in September 2020. With much faster stock turn, margins have improved materially, one of the key reasons for H1 outperformance and our full-year upgrade. Lookers has saved annualised payroll costs of c.£50m, representing c.1,500 heads. Forecast changes. As with many retailers, Lookers has yet to give revised guidance due to the uncertainty of Lockdown 3. With H1 c.£14m ahead of forecast and the improvements in working capital driving better used car margins, coupled with the restructuring and payroll savings starting to come through in H2, we upgrade our full-year loss to £3.8m from c.£20m. For FY21, we forecast PBT of £23.7m, an upgrade of £3.1m. Were it not for Lockdown 3, we would have been more optimistic with our profit forecasts. Twelve month target price set at 75p for relisting. Lookers is starting to look like a business transformed, with used car margins benefiting from much greater focus on working capital management and basic controls and a more efficient cost base. The customer journey is also much easier, with unaccompanied test drives (saving 25 mins), no lengthy document signing processes (now sent to customers’ homes) and contactless handover. The key question is what does normal look like? Cost savings will annualise into FY21 (c.£15m net benefit) and car margins will continue to recover thanks to working capital improvements. SMMT market forecasts of two million new car registrations (+25% from 2020) looks optimistic given Lockdown 3 and is likely to be revised down, we’re forecasting 15% growth at Lookers. Longer term, the path back to 1.5% PBT returns on sales seems a sensible expectation for normal, a level of profitability materially ahead of our current forecasts. Valuation . 75P
31/1/2021
20:10
jabers1: Look who’s back Lookers has published interim results for the six months ended 30 June and has applied to the FCA to restore its share listing. The interim loss of £36.1m is much better than our £50m forecast loss, driven by a marked improvement in working capital efficiency and gross margin. With significant cost reductions (£50m annualised payroll cost), H2’s profit will almost offset the H1 loss, we upgrade from c.£20m loss to a c.£4m loss. With significant operational improvements and lower debt levels, Lookers looks well placed for recovery. We set a 75p 12 mth TP, expecting the shares to quickly reset from FY21 PER of 4.5x. Substantial operational improvements. Towards the end of FY19, Lookers was carrying stock of £240m, average used stock levels are now c.£145m. This has not had an impact on sales volumes; average stock turn is 35-40 days rather than the 55-60 days before. Previously c.30% of stock was over 60 days old, vs 6-7% of stock in September 2020. With much faster stock turn, margins have improved materially, one of the key reasons for H1 outperformance and our full-year upgrade. Lookers has saved annualised payroll costs of c.£50m, representing c.1,500 heads. Forecast changes. As with many retailers, Lookers has yet to give revised guidance due to the uncertainty of Lockdown 3. With H1 c.£14m ahead of forecast and the improvements in working capital driving better used car margins, coupled with the restructuring and payroll savings starting to come through in H2, we upgrade our full-year loss to £3.8m from c.£20m. For FY21, we forecast PBT of £23.7m, an upgrade of £3.1m. Were it not for Lockdown 3, we would have been more optimistic with our profit forecasts.. Twelve month target price set at 75p for relisting. Lookers is starting to look like a business transformed, with used car margins benefiting from much greater focus on working capital management and basic controls and a more efficient cost base. The customer journey is also much easier, with unaccompanied test drives (saving 25 mins), no lengthy document signing processes (now sent to customers’ homes) and contactless handover. The key question is what does normal look like? Cost savings will annualise into FY21 (c.£15m net benefit) and car margins will continue to recover thanks to working capital improvements. SMMT market forecasts of two million new car registrations (+25% from 2020) looks optimistic given Lockdown 3 and is likely to be revised down, we’re forecasting 15% growth at Lookers. Longer term, the path back to 1.5% PBT returns on sales seems a sensible expectation for normal, a level of profitability materially ahead of our current forecasts.
03/7/2020
20:13
jabers1: Some interesting and extremely strong profits being made from used car stock, all bodes well for a bonanza this year for motor dealers as stock continues to be at a premium and all auction houses reporting 90% success regarding dealer disposals, this will counter any negativity from potential lower volumes from new sales. Retail Price Index | June 2020 3RD JUL 2020 June records largest used car price growth since January 2019 Auto Trader’s Retail Price Index recorded a 3.7% year-on-year increase in June 2020 (on a like-for-like basis) which was the largest monthly growth in used car prices since January 2019. The Index is based on observed pricing data from circa 900,000 vehicles every month, this took the average price of a used car in June to £13,949. June, the first full month of trading post lockdown for retailers in England, marks the third consecutive month of used car price growth, following the 0.1% and 1.9% recorded in April and May respectively. As well as the low supply of vehicles in the market (due in part to the slow reopening of auction houses post lockdown), this price growth reflects the huge surge in demand from car buyers. The Auto Trader marketplace recorded over 64 million visits last month, an increase of 29% on June 2019. There were also interesting trends in price driven by the age of the vehicle, with older cars seeing bigger increases. In June, the average retail price of a car aged over 10 years increased 6.7% over the previous year, and those aged five to 10 years increased 7.0% year-on-year. Newer cars aged below five years recorded a more conservative growth of 3% year on year. Auto Trader’s data scientists have also been tracking the pricing behaviour of retailers. During the lockdown period the number of retailers making price changes and the value of price adjustments was significantly lower than normal trading conditions. Whilst this has increased following the reopening of showrooms last month, the levels are still well below ‘normal’, pointing to the level of retailer confidence in market pricing. Pre-COVID-19, the number of retailers making daily price changes to their stock averaged between 2,500 and 3,000. Last week[1] a daily average of 1,816 retailers made price changes, which is 33% lower than the same period last year. In normal trading conditions, retailers adjusting their stock average between £250 - £550 per day. Further demonstrating the degree of confidence in the market, the average amount of each reduction last week was £256, so at the lower end of ‘normal’. Among those adjusting prices, 27% are increasing them. Commenting on these observations, Auto Trader’s director of data and insight, Richard Walker, said: “At Auto Trader, our valuations are based on observed price data from retailers. We don’t control it or set it, we simply reflect retailer pricing and ultimately, retailer reaction to market supply and demand trends. We’re seeing strong pricing trends at the moment driven by the surge in consumer demand post lock-down and we expect this to continue in the coming months. “The most successful retailers continue to achieve the best margins by utilising the retail back pricing philosophy. They use what is happening at a retail level to determine what they pay at trade. This approach feels more important than ever at a time when both the B2B and B2C markets will be driven by different factors.” Petrol prices rocket as low emission counterparts continue decline The impact of supply and demand dynamics in the market are evident in the price movement of internal combustion engines (ICE) and their low emission counterparts. At £14,789 diesel prices have increased 2.7% year-on-year following on from the 0.9% increase recorded in May. This is the highest level of growth since February 2019. However, it pales in comparison with the rate of growth in used petrol prices, which are up 5.3% year-on-year. At £12,697, it marks seven months of continued price growth and the highest increase recorded since October 2018. This is the result of high demand versus low supply in the market. The opposite is true for used alternatively fuelled vehicles (AFVs), which has seen a comparatively healthy supply in the market relative to demand. As a result, at £22,234, AFVs have recorded four consecutive months of price decreases, although the rate of contraction has begun to slow: from -1.5% in May to -0.7% in June. The average rate of price contraction for pure electric vehicles (EV) has remained relatively flat however, falling approximately 3% each month since February 2020. The average sicker price of a used EV in June was £25,786. Mike Jones, Chairman of Automotive profitability specialists ASE plc commented: “June was undoubtedly a phenomenally strong month for used cars, with many retailers recording record sales during the month. Consumers have emerged from the lockdown with an increased demand for personal mobility and this is reflected in the large monthly price growth reflected in the Auto Trader Retail Price Index, particularly amongst older vehicles. “As we predicted having watched the trends from other markets around the world as they opened up after the Covid-19 crisis, the fear of infection has driven an increased demand for car ownership as commuters remain fearful of public transport. The age of the cars increasing in prices, alongside the growth in petrol and diesel values, shows that this is a demand driven by a desire for individual transport rather than part of a wider green agenda.”
Lookers share price data is direct from the London Stock Exchange
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