MOTOR vehicle dealership Verve has narrowed its losses from £349,000 to £299,000, according to its latest set of accounts.

The document – covering the 12 months to December 28, 2011 – shows turnover dipped from £115.3 million to £92.6m. The company's prior year results covered a 15-month period to December 2010.

In the latest accounts, owner Charlie Adair said the results were satisfactory "considering the turbulent marketplace".

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The accounts show its bodyshop in Carluke sold for £1m to a partnership to reduce debt. Overall net debt was steady at £1.4m.

In August last year Verve – once the shirt sponsor of Kilmarnock FC – sold its Rutherglen and Wishaw sites to Arnold Clark. The company still has dealerships in Bathgate, Kilmarnock, Crookedholm and Coatbridge.