Tony Bramall buys more shares in Lookers
Tony Bramall, a non-executive director at Lookers, brought his stake in the car dealer beyond the 20% mark Friday when his family interests took 750,000 shares for £675,000.
Announcing the purchase today, Lookers said he paid 90p a share and now has 36,562,710 shares in the company, or 20.19%.
Bramall last bought shares in the company in January, when he bought 140,000 shares at 107p a go and 307,000 shares at 109.3p.
Shares in Lookers have lost more than 50% of their value in the past year.
Last month it said it had been held back by heavy losses at its used car supermarkets and margin pressure elsewhere adding that the market both for new and used cars set to remain challenging.
In 2007, turnover rose by 17% to £1.68bn from £1.43bn with organic growth of 12%. Profit before tax for the year was £23m against £21.4m, an increase of 7%, but before amortisation and exceptional items profits fell to £24.5m from £26.4m.
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