New car sales help profits to race up at Barnetts chain

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PROFITS at Dundee-based car retailer Barnetts motored ahead by 10 per cent in 2012 thanks to stronger demand for new vehicles.

The firm – which sells marques including Mazda, Peugeot, Volvo and Volkswagen, and has a branch in 
St Andrews – posted a pre-tax profit of £716,669 last year, up from £649,624 in 2011, according to accounts filed at Companies House. Turnover revved ahead by 10 per cent to £47.2 million.

Separate figures for its parent company, Barnetts Properties, revealed that the group will begin work next month at its Bassaguard business park in St Andrews, which will consist of nine units and is expected to be ready next year.

Barnetts said: “The town is in desperate need of rental units for business having had little development for many years and so initial demand for units has been strong. We are hoping for full occupancy on opening day.”

Barnett Properties’ parent company, Seasky, has also posted its accounts, which revealed the businesses yielded a dividend of £98,000 for sole shareholder Paul Barnett, up from £97,750.