Auto retailer Lookers resumes dividend, flags higher costs

(Reuters) - Lookers Plc reinstated its dividend on Wednesday after reporting a higher profit as demand for cars picked up last year after lockdowns were lifted, although the auto retailer warned of higher costs due to inflationary pressures in Britain.

The company, which reinstated its dividend of 2.5 pence per share for the year, reported annual underlying profit before tax of 90.1 million pounds ($117.59 million), compared with 13.7 million pounds from a year ago.

(Reporting by Radhika Anilkumar in Bengaluru; Editing by Sherry Jacob-Phillips)