UPDATE 1-Lookers '08 profit down; not to pay final dividend

Newswire

* Not proposing final dividend as co plans to reduce debt * Says Q1 performance ahead of expectations, year-ago qtr * 2008 adjusted pretax profit 14 mln stg vs 24.5 mln stg * 2008 revenue rises 6 pct to 1.78 bln stg (Adds details) April 30 (Reuters) - British car dealer Lookers Plc posted a 43 percent fall in 2008 adjusted pretax profit due to higher administration and distribution expenses, and said the company was not proposing a final dividend as it was panning to reduce debt. ...

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