Driving force: Profits and revenues accelerate at Johnson & Perrott dealership
One of the largest car dealerships in the country, Johnson & Perrott, last year saw its operating profits accelerate by 11.5pc to €4.65m.
This followed an 11pc increase in revenues at the Cork-based and family-owned business - jumping to €95.5m from €86.18m.
The accounts reveal that the firm purchased National Truck Rental Ltd for €7.719m as it expanded its business in 2018.
According to the directors' report, "despite a challenging environment, the directors are pleased to report a satisfactory year in 2018".
Owned by the Whittaker family, the group's pre-tax profits last year decreased by 45pc to €3.69m from €6.68m, largely as a result of a profit of €2.78m on the sale of investment properties in 2017.
The firm's 2018 pre-tax profits were also hit by a €529,000 write-down in investment properties and interest costs totalling €429,278 compared to interest costs of €272,500 in 2017.
The firm's workforce expanded to 151 from 121 causing a rise in staff costs to €7.68m from €5.9m.
The 2018 profits take account of non-cash depreciation costs of €13.14m.
The motor dealership division is operated through three dealership sites at Mahon Point, Douglas Rd and Bishopstown in Cork.