4 March 2013 Last updated at 02:08 ET

Car dealer Peoples drives profits forward

The company's chairman called on the government to cut VAT to stimulate the economy

The Peoples Motor Group has unveiled its second best results for 30 years with increased profits and turnover.

Turnover was up 1.6% to £147m and profits rose by 26% to £2.03m.

During the year, the company increased its presence in the north-west of England by buying a business in Accrington.

Peoples' chairman, Brian Gilda, said the company had overcome "the uncertain economic conditions to deliver up the best possible results".

Peoples employs 430 staff at seven car dealerships.

Mr Gilda warned that the company's future performance would be influenced by events in the Eurozone.

He called on the UK government to take measures to "further stimulate the economy and re-energise industry by cutting VAT to boost business and employment across all sectors".

He added: "What is clear is that consumers rely on the feel-good factor and it is quite apparent that they are taking a long, hard look at discretionary spending until their own jobs and incomes can be safeguarded."