Automotive retail and logistic specialist Automotive Holdings Group Ltd (ASX: AHE) said on Friday that it saw soaring full year net profit for 2010 which it attributed to the country's rising trade conditions.

The auto group said that its annual net profit jumped by 150 percent to $60.3 million in the past 12 months leading to June 30 and improving from the $24.1 million garnered from the previous corresponding period.

AHG said that the results were inclusive of the one-off profit of $5.215 from the sales of Carsales.com shares as it added that overall revenue for the whole period spiked up by 5.3 percent to $3,239.9.

The group said that its automotive retail division picked up due to the improving trading conditions as it registered revenue of $2.858 billion and $62.9 million as profit before tax and unusual items.

Also, the company's logistic division turned in revenues of $382.3 million and $16.6 million profits before tax, as it further strengthened gains collected in the prior year.

AHG managing director Bronte Howson underscored that the results were gained due to the recovering economic situation with further stability seen on the automotive retail industry.

Mr Howson said that the company's automotive division benefitted from this year's record sales of new vehicles while the logistic division "provided a creditable contribution to the group's underlying profit given challenging market conditions in particular business segments."

He added that the group's transport and cold storage segment contributed as well with EBITDA improvements of up to 12.5 percent last year but the company only managed to post an overall logistics profit before tax of $16.6 million as against last year's $19.3 million.

Mr Howson said that this was mainly brought about by the 13 percent slide in the national motorcycle market and further declines on demands for AHG's vehicle storage operation.

As of 1119 AEST on Friday, AHG shares were trading at $2.48, as it managed to crawl by a cent higher from previous trading day.