5:30 am, May 13, 2014
JCT600 has announced record results reporting turnover up by 36 per cent, growing to £909m in the year to December 31, 2013.
The Bradford-based group’s annual results show a £241m increase in turnover that includes a 10-month contribution from the Gilder dealerships acquired by JCT600 in March 2013. That deal consisted of two Audi, four Volkswagen and a Seat dealership as well as two Volkswagen Commercial Vehicle dealerships, two parts depots and a body shop.
The firm made an operating profit before goodwill and exceptionals of £20.3m, up 30 per cent from £15.6m the previous year.
The group says its strong results were driven by a 46 per cent increase in new vehicle sales (16 per cent on a like-for-like basis).
The firm also out-performed the used car market and enjoyed a 32 per cent rise in unit sales (17 per cent like-for-like). The group’s after sales operation also continued the upward trend seen in 2012 with gross profit increasing by over £10m (£1.8m like-for-like).
Increased gross profit margins helped JCT600’s fleet division with sales increasing by 66 per cent (28 per cent like-for-like) compared with an increase in the UK fleet market of 5.7 per cent.
‘The group has shown resilience throughout the downturn by focussing on tightly controlling costs while providing outstanding customer care,’ said JCT600 group chief executive John Tordoff (pictured). ‘This, together with the additional dealerships provided by the Gilder acquisition, means we are well-placed to benefit from the upturn in consumer and business confidence which began last year.
‘2014 has already got off to a good start with new vehicle sales increasing by 18 per cent in the first quarter as customers take advantage of the excellent deals available and we are optimistic that this momentum will continue.’
Tordoff added: ‘While continuing to invest in our 47 dealerships with an ongoing programme of improvements, we are only too aware of the importance of the internet to our customers and this is another area in which we will continue to focus – we have seen a huge growth in traffic, particularly to our mobile site with visits increasing by 139 per cent last year.
‘Over our sixty-year plus history, we have built a strong brand and a loyal base of customers, but it is only by responding to customer needs and embracing new technology that we will be able to maintain our market leading position.’
