Lookers - Signs of progress despite challenges

With the new car market still challenging, the appointment of a new CEO does not automatically solve Lookers’ problems but does provide some encouragement. Mark Raban has credentials in the automotive retail sector and already appears to have been setting about resolving issues on the financial front. The better-than-expected year-end net debt position provides a reference. In 2020 we expect more efforts to improve the portfolio as he seeks to reset the strategy, optimise performance and driver Lookers forward.