Lookers - Operations recovering despite audit delays

Lookers’ shares remain suspended awaiting publication of the FY19 accounts. However, further extension of the audit scope means that expected completion before the end of August has again been deferred. Meanwhile, the company continues to trade as usual. Management has released a reasonably encouraging H120 update, which suggests that despite the legacy issues, the UK’s second largest automotive retailer has a reasonable chance of emerging into the market recovery later this year.