Updates

Lookers - Cash and property of 95p versus share price of 79.5p

September 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Lookers rival, the car dealer Pendragon (PDG; 21.5p), received an offer at 29p during the month and with Cinch owner Constellation holding 19.9% of Lookers, which it bought at 102p from former non exec Tony Bramhall, I suspect its own days of independence are numbered. In particular, helped by working capital improvements, net cash has ballooned to £78.5m, up from £33m a year earlier - so property and cash is now worth 95p a share, a 19.5% premium to the present share price. Latest H1 shows an outstanding performance against a backdrop of severely disrupted vehicle supply. Sales were ahead by 4% to £2.23bn with underlying pretax profit of £47.2m down from H1 2021’s exceptionally high watermark of £50m (although when you exclude g ...

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Tracsis

SDI

Lookers (August 2023)

Lookers (July 2023)

Lookers (April 2023)

Lookers (November 2022)

Lookers (July 2022)

Lookers (November 2021)

Lookers - Eps forecasts climb to 12.6p (September 2021)

Lookers - Unscheduled update: forecasts increased by >30pc! (May 2021)

Lookers - Prospective PE drops to 5.8 next year (April 2021)

Lookers - Trefic and Bramall take up full 43% entitlement (August 2009)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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