Chairman Tony Bramall said the company was confident of another year of growth and announced pre-tax profits up by 9.3% at £10m on a turnover of £440m while total sales in its car division of 43 franchised outlets and four used car centres rose from 25,600 to 26,370.
Bramall said: 'With the Government having published its intentions regarding the price commission report, the way should now be clear for consumers to form the view that prices are reducing for new cars and to make their purchase decision with more confidence.'
But in the contract hire division, end of contract profits have been hit by a reduction in used car values, although net profit increased by 5%.
Sanderson Bramall's two contract hire companies Sanderson Albany Lease and BMG Contracts are on course for amalgamation by the end of this year with a total of 7,500 units - virtually a 50/50 split for both - as a cost saving exercise. The group's internet site for new and used car and commercial vehicle sales has developed over the last year and Bramall promises new online initiatives by early next year.