Eastern Holdings, which operates dealerships under the Eastern Western Motor Group banner, saw its turnover rise from £288.6 million to £324.5m in 2011.
However, according to accounts filed at Companies House, pre-tax profits declined from £5m to £3.3m.
The four Saab sites suffered a "massive decline" in turnover and gross profit when the Saab Great Britain business went into administration, leading to a lack of new models to sell.
Eastern Holdings, headquartered at Broxburn, West Lothian, said: "This resulted in a negative net profit contribution from a division which was previously very profitable.
"We have since refranchised two of our former Saab outlets with the Seat franchise and we are in discussions with other manufacturers regarding our two other dual franchise sites.
"These outlets will however remain as Saab authorised repairers."
The company, majority owned by director Douglas Brown, also said it had seen administration costs rise from £36.1m to £40m as a result of opening four new dealerships.
These dealerships were Lexus in Glasgow plus Mazda, Honda and Nissan in Edinburgh – at the end of 2010.
In notes to the accounts the directors said: "As we stated in our 2010 accounts we do not see any significant profit contributions coming from these new additions for up to two years until we build up their aftersales contribution."
The company said that poor consumer confidence meant the market for car sales was still extremely tough.
However it had seen greater profitability in its Mercedes Benz commercial vehicle arm.
A dividend of £800,000 was paid compared to £809,000 in 2010.
Director's emoluments increased from £199,000 to £225,000 with the highest paid receiving a rise in their rewards from £170,000 to £193,000.