In today's podcast Adrian Lawrence talks about Lookers plc the UK motor dealership which was suspended for 6 months following an accounting fraud scandal. This resulted in the departure of the companies chairman and CFO and their replacement with a new team of experienced industry professionals. Their auditors have also been replaced.
Their return trading accompanied by a positive RNS led to the share price jumping 83% as the market reacted positively to their cost reduction and restructuring efforts. Also trading has been ahead of expectations which is very positive considering the dealerships network has been closed for long periods during the UK lockdowns.
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