Independent Scottish motor dealer group Arnold Clark saw pre-tax profits drive ahead to £60.5 million last year.
Newly published accounts show turnover across the group increased by more than 10% to £2.48 billion in the year to December 31, while pre-tax profits were £8.7 million up on the £51.7m return posted in 2011.
One of Europe’s largest independently owned auto traders, it added 228 staff last year, taking its overall workforce to 8,315.
Staff costs including wages, social security payments and pension costs climbed from £197.3m to £203.9m in the period, while directors’ emoluments increased to £5.9m from £4.46m the year previous. The highest-paid director picked up a £2.19m package.
Some of the new staff were in Dundee, Perth and Grangemouth after Clark’s moved to acquire the rival John R Weir business in a multi-million-pound deal.
Founder and chairman Sir Arnold Clark said 2012 had been a “successful year” for the business despite the weakness of the UK economy.
He said the company instituted an operational review early last year with a view to driving operational efficiency across the business in pursuit of medium and long- term expansion goals.
Sir Arnold described the John R Weir move as the “most significant addition” to the company during the year, and said it offered “significant potential” in terms of its Mercedes Benz operation.
The accounts also show Sir Arnold’s cautious optimism for the sector as the company moved into 2013.
“Whilst the wider economic situation remains uncertain, the consensus in the motor industry is for modest growth in both the new and used retail markets,” he said.
“Our hard work and impressive results in recent years mean that we are confident about our ability to achieve profitable expansion, both organically and through strategic acquisitions.”