Aberdeen-based Town & County Group has bounced back from big losses in 2008 to turn in a profit last year.
T&C reported a £1.47 million loss in 2008 caused by "exceptional" stock losses and the closure of one franchise.
However, the company has reported pre-tax profits of £476,000 in 2009 with turnover still down almost £7 million to £47 million.
The recovery came after T&C acquired Manor Oak Honda in Aberdeen for a seven-figure sum last November.
The business looked at costs and increasing efficiencies within its operations which also contributed to the turnaround.
Managing director of the multi-franchise operation, Athol Strachan, said the positive trend was continuing with the first quarter of 2010 recording excellent business with Land Rover, selling well thanks to northern Scotland’s atrocious winter.
The group, which has a staff of 200, has franchises for Land Rover and Porsche in Aberdeen, eight filling station sites in the North-east of Scotland and a 4x4 Self Drive rental operation.