Lookers to look up

TROUBLED car dealer Lookers has insisted it could recover.

The firm is trying to rebuild after a scandal that saw accounts delayed and shares suspended.

Results issued yesterday for the first half of last year showed it crashed from a £22million profit to a £36million loss as revenues dived 40 per cent to £1.56billion.

To slash costs it closed 12 sites last year and axed 1,500 jobs. However, it said trading the second half of last year was “encouraging”.

Chief executive Mark Raban said: “There remains a high level of uncertainty in the wider environment, but we are confident the group is much better positioned for the longer term.”