Just Car Clinics (JCC) has posted a 12% rise in pre-tax profits to £1.3 million, helped by a 16% rise in revenue to £42.6m.
The company announced in its preliminary results statement that it would be trading in line with expectations this year.
Barry Whittles, JCC chief executive, said: “I am delighted by another year of progress for Just Car Clinics despite the challenges presented by a difficult economic climate.
“I believe that we are in good position to meet the demands of the economic recession and look forward to continuing success during 2009.”
Whittles said market repair volumes fell in 2008 through a combination of reduction in road traffic associated with high fuel prices and a decline in car residual values which has increased write off rates.
He said: “Despite these adverse market conditions the group has managed to increase like for like sales by focusing on increasing volumes from local business fleets, vehicle manufacturer approval programmes and accident management companies, to complement the existing relationships with major vehicle insurers.”
During 2008 JCC continued its strategy of expansion and three new branches were acquired in Swindon, Banbury and Hull at a total cost of £354,000.
These three sites contributed additional sales of £2.2 million, but made a combined loss during 2008 of approximately £100,000.
Whittles said the changes in the market during 2008 had extended the period needed for the new sites to reach optimum capacity and efficiency levels.
JCC is still looking for new acquisition opportunities and is expecting to add more sites to its portfolio this year.