Flemming Hansen was travelling at 49 miles per hour above the speed limit on the M90 motorway when he was spotted by police.
The roadside patrol officers set off after the Denmark-born entrepreneur’s 5-series BMW and recorded him driving at 119 miles per hour.
Yesterday at Perth Sheriff Court, Hansen, of Balmossie Meadow, Broughty Ferry, asked for time to prepare a case to plead against a lengthy disqualification.
Hansen, who already has two live speeding penalties on his licence, told the court that a long ban would adversely affect his business and colleagues.
The 51-year-old admitted speeding at 119 miles per hour on the M90 between Inverkeithing and Perth at Cuthill Towers on 18 March last year.
The solicitor Martin Black, defending, said: "I understand there are six live penalty points on his licence.
"I would move for sentence to be deferred for a period."
And he added: "[Hansen] has indicated to me the potential impact of the loss of his licence for a substantial period of time."
Mr Black said he required time to seek documents which would clarify the impact that imposing a driving ban on Hansen would have on his business.
The sheriff, Robert McCreadie, granted the request and continued the case until August to hear full mitigation prior to sentence.
He added: "The speed is 119mph and I see he has points on his licence.
"It is obviously a significant speed and he already has speeding offences on his licence," he said.