Lookers, the 126-franchise motor dealership, announced a 20.2% year-on-year increase in pre-tax profit to £28m for the first half of the year, and total group revenue for period increased to £1.24bn, a 20.3% increase over H1 2012.
Revenues increased in part due to improved new and used market performance; core retail new car sales increased by 19% compared to 2012 on a like-for-like basis and used car sales volumes increased by 22% year-on-year, with gross profit per unit increasing by 6.4%. The fleet sector sales volumes, however, fell by 8%.
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Peter Jones, Lookers chief executive, said: "The continuing recovery in the UK new car market and the recovery in our parts division gives us confidence that we can continue to grow the business, deliver improved results for the full year and increase dividend payments to our shareholders."
The results continue a trend in positive results for dealers in H1 2013, with Pendragon, the 19-site motor retailer, also posting improvements over the same period last year.
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