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Lookers PLC H2 profit climbs 6.5% YOY

Lookers plc said its second-half normalized net income was 4 Great British pence per share, a gain from 3 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £14.3 million, an increase of 6.5% from £13.4 million in the prior-year period.

Total revenue increased 32.0% on an annual basis to £1.90 billion from £1.44 billion, and total operating expenses rose 32.8% on an annual basis to £1.88 billion from £1.41 billion.

Reported net income increased 10.0% year over year to £19.0 million, or 5 pence per share, from £17.3 million, or 4 pence per share.

For the year, the company's normalized net income totaled 10 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 14 pence.

EPS rose from 9 pence in the prior year.

Normalized net income was £39.3 million, an increase of 6.1% from £37.0 million in the prior year.

Full-year total revenue increased 19.9% on an annual basis to £3.65 billion from £3.04 billion, and total operating expenses increased 20.2% on an annual basis to £3.57 billion from £2.97 billion.

The company said reported net income increased 8.6% on an annual basis to £50.8 million, or 13 pence per share, in the full year, from £46.8 million, or 12 pence per share.