Car dealership John Clark Motor Group yesterday announced record car sales as its turnover grew by 5% to £703 million last year.
The group, which operates in Dundee, Perth, Cupar, Kirkcaldy and Dunfermline, recorded a pre-tax profit of £8.2m for the year ending December 31.
During the financial year, the company completed its Dundee Audi showroom refurbishment.
It has also started work in Dundee for the relocation of John Clark BMW, Mini and Motorrad to a new site under development in Kings Cross Road.
A new Jaguar and Land Rover dealership will also be created in the same street.
Last year the Aberdeen-based company sold a total of 27,234 used and new cars, a rise of 7% from 2015.
The rapidly-growing company has seen its turnover almost double over the past five years and it employed 1,206 people at the end of last year.
Despite the positive full year results, group chairman John Clark said the EU referendum had an impact on sales during the latter part of 2016.
He said: “Whilst the early months saw encouraging trading results, the period leading up to and after the Brexit Referendum saw a marked reduction in our vehicle sales performance.
“Consequently, some dealerships experienced operating profits under pressure, against a background of challenges caused by changing market dynamics and declining consumer confidence.
Mr Clark said that figures this year showed the company was still growing.
“We recognise that the wider outlook for 2017 is one of ongoing political uncertainty with a stable but fragile economy,” he added.
“However, our midyear management accounts show 7% further growth in turnover and our net profits are ahead of prior year comparatives.”