The Glasgow company, founded in 1955 and formerly known as John S Braid & Co, saw pre-tax profits before exceptional items increase from £1.18m to £1.3m in spite of turnover dipping from £42.4m to £41.3m.
Writing in accounts filed at Companies House the directors said: "The Isotanks, Freight Forwarding, Projects, Transport and Warehouses divisions all finished the year well ahead of budget.
"The company is on target to meet budget in 2013 and continues to expand its business across all five trading divisions."
It said the exceptional item related to an accrual in the company's accounts.
The directors said: "In January 2013, the directors and the directors of the company's parent company Braid Group (Holdings) Limited, initiated an independent review and investigation into the internal procedures of the company based on evidence of a potential weakness.
"Following advice from the solicitors to both the parent company and the company, the parent company reported certain findings regarding the company to external authorities on a voluntary basis. The review and investigation is due to be completed in the latter part of 2013."
As a result of the investigation the board said it has taken some steps to bring corporate governance into line with best practice.
This includes appointing new auditors - the company was audited by Bannerman Johnstone Maclay in 2011 but is now audited by Grant Thornton - added several new directors to the board and strengthened its accounting and reporting practices.
The directors said they are confident "this will result in a stronger, more dynamic company" and added: "The company possesses investment opportunities within existing company resources for acquisitions and partnerships within our various business divisions, in particular bulk liquids. This will include significant increased ownership in our ISO tank fleet and expansion in our market leading food grade specialism."