John Tordoff, chief executive of JCT600
Bradford-head quartered car retailer JCT600 is marking another year of record turnover with revenues reaching £1.25bn, a 2% rise from £1.22bn the previous year. The family business’ strong performance comes in the face of challenging market conditions.
JCT600 significantly outperformed the overall market, whilst a strategic focus on the sales of used vehicles and aftersales provided another year of growth in these key areas.
Together with the growth in sales, the group also saw an improvement in its gross profits and that, together with a tight control of expenses right across the business, provided an increase in the group’s operating profit before exceptional items to £19.1m.
Throughout the year, JCT600 continued to invest in its ongoing programme of new premises and redevelopments with a further £7m being spent. This included the opening of a new Porsche Centre in Teesside as well as major refurbishments at Mercedes-Benz Sheffield and Peugeot Bradford.
John Tordoff, chief executive of JCT600, commented: “Whilst there was definitely a degree of uncertainty in the UK economy last year which made trading conditions a challenge, the confidence of our customers appears to be resilient. Given the strength and longevity of the JCT600 name, the company is continuing to outperform the market as we stick to our core value of being a ‘Trusted’ partner for our colleagues, customers and our brand partners.”
Nigel Shaw, group finance director at JCT600, said: “Despite strong competition both from other physical retailers and from the internet-based dealers, our ongoing investment in people, dealerships and systems is enabling us to retain our competitive advantage.”
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement