Lookers maintains cruise control

The group said adjusted pre-tax profits increased to £36.8m from £33.8m in 2011. Revenues of £2.06bn compared with £1.9bn a year earlier.

Chief executive Peter Jones said: “Our motor division has produced an excellent result and the parts division has delivered a resilient performance in challenging market conditions... These results give us further confidence that we can continue to grow the business in 2013, despite the fact that short-term market conditions remain challenging.

“As economic conditions improve over the medium-term, Lookers is well placed to take advantage of future growth in the new and used car markets and increased demand for aftersales and parts.”

Lookers said its motor division saw strong double digit growth in volumes of new and used retail cars, while the wider car retail market saw 12.9 per cent growth. But its parts division was hit by a fall in non-essential maintenance and higher competition.

Lookers has Alfa Romeo, Kia, and Ford dealerships in Sheffield, plus a leasing business in Harrogate and parts distribution firms in Sheffield and Leeds.