Luxury car dealer HR Owen has revealed business growth over the last year, with foundations for its future success said to be "firmly in place".

The business, which has a site in Cheltenham, revealed a 19.6 per cent jump in revenues to £536.2m for the 12 months to June 30.

Pre-tax profits also increased 14.1 per cent to £15.6m.

HR Owen represents and sells brands including Aston Martin, Bentley, Bugatti, Ferrari, Lamborghini and Rolls Royce.

During the period, it had increased new car sales by eight per cent to 1,244 and used car sales by 17 per cent to 1,892 despite vehicle supply shortages.

A statement provided alongside the trading figures read: "The foundations for the group's success in serving a highly discerning market are now firmly in place.

"As the current period's results have shown, the group is continuing to invest heavily in capital expenditure which will lay the foundation for further growth."

The results also reveal a £10m increase in the firm's distribution and admin expenses, as well as a decline in HR OWEN employees from 460 to 409 people.