10:45 am, September 6, 2022
Dealer group Jemca Cars has announced an improved pre-tax profit of almost £3m for the 2021-22 financial year.
New accounts, published via Companies House, show the London-based outfit saw revenues soar in the 12 months to March 31, 2022.
It was a bumper year for the firm, which runs seven Toyota sites across the capital and the south east of England.
Accounts show a 28 per cent rise in turnover from £249.1m in 2021 to £318.1m in 2022.
The improved revenues were fuelled by 7,888 new vehicle sales (2021: 6,630) and 6,905 used vehicle sales (2021: 5,375).
Overall, it meant that Jemca made more money than ever before, with an operating profit of £3.36m compared to 2021’s £1.87m.
That translated into a pre-tax profit of £2.97m – a 28 per cent rise on the previous year’s result.
Jemca ended the year with net cash in hand and at the bank of £4,341,844.
Bosses say they are delighted with the result in what was a year impacted by the pandemic.
A statement included in the accounts, from director Masato Yamanami, said the firm had focused on retaining its customer base during the difficult periods.
He said: ‘Despite the uncertainties in the market, due to the continued impact of Covid-19 we took full advantage of strong demand for used cars through the trading periods, with us vehicle sales increasing by 28.5 per cent.
‘During the year under review, the company continued to improve customer retention and focused on back-to-back returns of our customer base.’
He added: ‘The company continued to maximise government support for businesses due to the Covid-19 impact, enjoying a holiday period in property tax, which significantly assisted in keeping operational costs under control.
‘Management continues to review operational and structural costs in several areas to improve cost efficiencies focusing on managing headcount levels, but increasing operational and governance resources where appropriate.’
