Pendragon, Britain’s biggest car dealership, has posted a 71% increase in half-year pre-tax profits, helped by its £230 million acquisition of rival CD Bramall, according to the Daily Telegraph.

The company also reportedly said trading had been good through June and July, shrugging off industry concerns that UK car sales were slowing.

According to the report, pre-tax profits jumped to £40.6 million on turnover up 68% to £1.6 billion for the six months to June 30, swelled by four months’ trading from CD Bramall. Trevor Finn, chief executive, reportedly said the purchase – which doubled Pendragon’s size – was running four months ahead of schedule.

The Daily Telegraph said typical savings included merging IT systems, which will shave £250,000 off group costs per year – so far 40 jobs have gone, largely from closing CD Bramall’s head office, costing about £2 million in redundancy payments.

Finn told the paper Pendragon would be strengthening its presence in the United States, where it owns seven Jaguar and Land Rover dealerships in California – the US business made gross £14 million profits on sales of £77.8 million.

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