Lookers delays results on ‘potentially fraudulent transactions’

  10 March 2020

Lookers is delaying its annual results statement, due out tomorrow (11 March), after identifying “potentially fraudulent transactions in one of its operating divisions”.

In a stock exchange statement Lookers said it identified the irregularity while in the final stages of preparing its annual results.

The stock market statement added: “Whilst the initial findings are not material in the context of the group, the board is appointing an external adviser to lead a full investigation into the matter.” Lookers

The results will now be issued in the second half of April.

The delay and investigation follow a tough year for Lookers which is still under investigation by the Financial Conduct Authority and has issued a profit warning as well as replacing both its chief executive and managing director.

 

Barbuck

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