Lookers is on track to meet full year targets following positive trading in the third quarter and a solid result during the important month of September. The group said that in light of the softening in the new car market since April, as various factors impact on consumer confidence, it continued to plan prudently for the business. But it said that based on the progress seen in the year to date, the board was confident that the group would make further progress during the remainder of this year and believed that the results for the year ending 31 December 2017 would be in line with management's current expectations. Lookers also said it would be announcing a share buyback programme as this provided sensible returns at the current share price. It said the buyback would be subject to certain pricing, liquidity and quantum parameters, one of which would be that shares would only be bought back below a pre-determined share price level.
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