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Lookers warns of H1 loss, expands probe into 2019 accounts

Aug 20 (Reuters) - Auto retailer Lookers warned on Thursday that weak demand and margin pressures will push it to a “material” pre-tax loss for the first-half of 2020 and extended a probe into 2019 accounts to the group and individual level.

The company said it cannot publish its 2019 financial statement by August end as the new scope of the audit means “further work” on its corporate leasing division, vehicle financing arrangements and balance sheets of 2018 and before.

Lookers had in March delayed its annual results after identifying potentially fraudulent transactions in one of its segments.

Reporting by Yadarisa Shabong in Bengaluru; Editing by Arun Koyyur

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