Lookers Plc (lon:look)
Lookers – Suspended As Expected.

Lookers Plc Financials

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YearN/A N/A
Period12 Months12 Months
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Commentary History
Lookers Plc Share Price
Grade:The Orange Grade - Shares That I Think Show Promise With A Few Caveats.
Title: Lookers – Suspended As Expected.
Company: LOOK - Lookers Plc
Share Price Then: 21p
Author: Ian Smith
Date: Wed 01 Jul 2020
Comments: As expected Lookers have suspended their shares in order to complete the 2019 audit.

No expected date was announced for reinstatement beyond when the results are published.

Given that the previous accounts were signed off and the current auditors are resigning there doesn’t seem to be any reason to believe that they will be published in the next few days.

Deloittes have been Lookers auditors since 2006 and as the company’s shares have been suspended I suspect that a certain amount of backside covering will be going on.

I am still optimistic but I also felt that things couldn’t get any worse for companies like NMC, Patisserie Valerie, Finablr and the list could go on.
Read Count: 195/13147

Buy/No Buy In A Nutshell
NegativesShares suspended and accounts delayed beacuse of a relativelly small fraud.
PositivesA big player in the new car market and if all the funnies have been found they don't appear to be terminal for the business.
Initial Review Price21p
Last Review Price21p
Last Review Date02-Sep-2020
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