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I would say a forward P/E of around 15. We don’t have a positive historic P/E due to a slight loss. However after next year end results we should be on huge re rating (Inventory and execution of strategy assumed). At that time I expect fair value of 150p broker ratings citing c. 190p
It's going to make c. £100m in 2021.
Current cap is just over £300m.
Still insanely cheap.
Anyone care to hazard a guess as to the size of offer that would represent fair value for this company?
A Cazoo bid to secure them a reliable source of used car stock? (like Constellation have done with Marshall).
Yes, could be him or PE and him.
Key is Tony Bramall
Must be a PE bidder. No other plc moving in reaction. I guess we will know tomorrow.
Looking at the bought/sold again on this site I see
Vol. Bought 14,356,572
Bought Value £14,475,060.39
So over £1 a share ?
...or have I missed something ?
bid at 90p I would be my bet
I can sell on AJ Bell now for 86p, so that bit's not a glitch.
The SP page here shows 14m shares bought today & only 1m sold
I was wondering if there was a glitch ?
Sudden spike to 86p then down a little & spread increased to 2p
Can't see trades that far back...
Something brewing here me thinks. Big uplift in SP?
What Lookers very much need to do is ensure they are aligned well with the correct EV OEM's, and also watch their service work as EV penetration takes hold as they need less service work, so therefore assume lower service costs and spares costs etc. Their small move into smart repairs shows they are thinking about this, but need to ensure the transition to a bigger EV parc in the future is executed well. Hope this management team have the out of the box strategic thinking to do this? The past certainly did not!
@MIkeClarke
The EV subsidies announced last week should help Lookers sell more EVs
https://fleetworld.co.uk/new-salary-sacrifice-scheme-to-make-switch-to-evs-a-no-brainer/
I also see that Lookers opened the second Polestar site in the Trafford centre around Christmas, and whilst this would not have consumed too much cash, it just shows how the company is re-positioning itself, here with a Chinese EV manufacturing company. With its new second hand cars site, a fleet of delivery lorries and purchasing cars second hand from retail punters to compete head on with Cazoo and Cinch, and its focus on smart repairs through its dealerships, I can see more good news to come in the annual report and H1 trading 2022.
Yes it is probably that new transit centre, new lorry delivery fleet and investment into sales channels etc. They appear to be gearing up for the future very well presently, and hopefully now back on the front foot to lead the market, after being in a very bad position over the last 5 years under the old CEO and chairman, who sat on their laurels.
Thanks red wine day. I have this morning found on AM-online an article published yesterday titled, Lookers opens new Ford Transit Centre in Colchester. Perhaps that could explain the reduction in nett cash.