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Weir's profit trebles thanks to jump in sales

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Scottish dealer group John R Weir saw profits treble last year following a jump in sales and tough action on costs.

The company, which partners Mercedes-Benz and Smart in Aberdeen, Dundee, Grangemouth and Inverness, and has Chrysler Jeep, Isuzu, Kia and Subaru dealerships in Perth, recorded a 9.8% rise in turnover to £91.5 million in the 12 months to November 2010, according to its latest accounts at Companies House.

It said it had sold 24% more new cars and 16% more used cars in the period, plus 6% more commercial vehicles.

Gross margins on new and used sales dropped by about 1%.

Pre-tax profits jumped to £424,000 from £134,000, helped by cost-cutting measures, including reducing headcount to make savings on payroll.

It also said it has moved to Barclays as its banking partner after seven years with RBS.
 



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