Broxburn-based Eastern Holdings, which runs dealerships under a host of major marques, also cited the demise of Saab sales as pre-tax profits before exceptional items fell to £2.09 million for the year ended December 31, 2012. It came after Eastern, owned by Douglas Brown, booked earnings of £3.27m in 2011.
The firm's latest accounts include an exceptional item of £1.32m, which reduced pre-tax profits to £776,000.
Eastern, whose 20-plus franchises trade as Mercedes Benz, BMW, Lexus, Toyota, and Volkswagen, saw group turnover rise to £345.5m, up from £324.4m in 2011.
This marked an 11% increase when excluding the company's four Saab divisions, sales from which ended after Saab Great Britain went into administration.
The directors said administrative expenses rose 2.3% as it opened four new franchsises, launched a Toyota dealership at Edinburgh's Luxury Car Village, Newbridge, and closed its Toyota facility at Sighthill.
The firm plans to develop a Volkswagen dealership at the Newbridge site.