Motor group John Martin Holdings has said it expects to return to profit this year after refocusing its business and posting a significant year-on-year drop in its loss for 2013.
The company, which covers car sales, repairs and servicing, said in a Companies House filing that its loss on ordinary activities before taxation fell to £224,000 for the year.
That compares to £3.5 million in the previous year, a period it described when it posted that year's results as "disappointing".
The group, which trades under brands including Belmont Group, said it achieved the "considerable" year-on-year results improvement after shedding major loss-making divisions in 2012, allowing it to work on its ongoing cost and debt reduction.
During 2012 the company sold off dealerships in Kemnay, near Aberdeen, and Glasgow to Arnold Clark. It also offloaded an accident repair centre in Perth after losing an exclusive contract with Direct Line.
Cost of sales for the year dropped to £53.5m, from £73.4m in the prior year, and selling and administrative expenses also experienced a drop, to £9.3m from £14.6m.
The company also noted that it had sold its Rolls Royce and Aston Martin dealerships, as well as its Aberdeen Accident Repair property at the start of this year. It said it had now finished its disposal programme.
Managing director Gordon Nisbet acknowledged that 2013 had been "reasonably difficult" as it moved to become a smaller, less geared business.
Mr Nisbet said downsizing the business had provided it with a "new beginning", and for 2013 it posted operating profit of £351,000, swinging from a £2.7m loss.
Turnover was at £63.1m, compared to £85.3m in 2012, while there was a net cash outflow from operating activities of £153,000, compared to a net cash inflow of £494,000 the previous year.
It said its average number of staff during the year, including directors, fell to 240 from 359 in 2012, and employee costs dropped to £7.2m, down from £10.4m. Directors' remuneration for management services fell by £6,000 to reach £482,000.
Its directors did not recommend paying a dividend - no dividend was paid in 2012 - and the retained profit has been transferred to reserves.
As for 2014, Mr Nisbet said the independence referendum earlier this month put a noticeable dampener on what is traditionally a peak month for the motor trade. However, he noted that sales had picked up since then and described the outlook as positive. "Everything is going well," he said.
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