Operating profits at one of the largest car dealerships in the country, Johnson & Perrott, increased 11.5% to over €4.6m last year.
Revenues at the Cork family-owned business also climbed 11%, to €95.5m.
According to the directors’ report, “despite a challenging environment, the directors are pleased to report a satisfactory year in 2018”.
However, the business, which is owned by the Whittakers, posted a 45% drop in pre-tax profits to €3.69m, mainly because it booked the sale of an investment property in the previous year.
The firm’s 2018 pre-tax profit was hit by a €529,000 write-down in investment properties and interest costs of €429,278.
The motor dealership division is operated through three dealership sites at Mahon Point, Douglas Road and at Bishopstown.
It opened a second dealership building at Bishopstown this year.
Johnson & Perrott has franchises to sell Honda, Jaguar, Kia, Land Rover, Opel, Peugeot, Volvo, and Seat cars.
The group employed 151 people last year, up from 121 in 2017, and staff costs increased from €5.9m to almost €7.7m.
The accounts show key managers were paid €505,163 and paid dividends of €675,000.