However, retail business was up by 15.5% from £14 million to £16.2 million, while used car sales rose from £28.8 million to £29.3 million. While turnover rose 6.4% to £702 million from £660 million in 1999, pre-tax profits fell 6.9% to £7.5 million from £8.1 million. A spokesman said: 'Our results reflect a credible performance in what was an extraordinary and unpredictable year for the car market and a challenging year for motorcycles. Fleet sales reduced following the decision not to transact any business which involved repurchase commitments and to concentrate on sales with an acceptable margin.'
The firm also revealed it has sold 1,100 cars through its online retailing division, jamjar.com, and taken more than 800 orders in the first two months of 2001.