JCT600 drives steady turnover and increasing profits despite declining new car sales
Bradford-headquartered car retailer JCT600 has strengthened its financial position, with revenues reaching £1.251bn, a 2% rise from £1.226bn in the previous year.
Reporting on the year to 31 December 2017, the family firm said its pre-tax profits figures for 2017 were £17.1m, up from £13.6m in 2016.
Despite falling demand for new vehicles in the UK car market, JCT600’s performance in the retail sector showed modest decline. JCT600 said it had outperformed the overall market, with a strategic focus on the sales of used vehicles and aftersales providing another year of growth .
Throughout the year, JCT600 spent £7m on new premises and redevelopments. This included the opening of a Porsche Centre in Teesside as well as major refurbishments at Mercedes-Benz Sheffield and Peugeot Bradford.
John Tordoff, chief executive of JCT600, said: “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, added: “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.”
Maintaining and developing a digital platform for customers continues to be a priority, with JCT600 seeing total visitors to its website and social media channels increasing significantly once again.
Founded in 1946 as Brooklands Garage on Sticker Lane, Bradford, by current chairman Jack Tordoff, JCT600 has grown from a single dealership into the largest privately owned business in Yorkshire. With 50 dealerships from Yorkshire and the North East to Derbyshire, Lincolnshire and Nottinghamshire, the group represents 18 of the world’s leading car marques and has a team of 2,200 staff members.
