JCT600 defies downturn with healthy profits
YORKSHIRE-based car retailer JCT600 has outperformed the market by posting profits of £8.2m.
The car dealership today reported that a 13% rise in used car sales and a cost reduction programme helped the firm record a £465m turnover for the 12 months ended December 31, 2009.
As well as growing sales at its existing dealerships the group has also expanded its operations with the acquisition of Audi dealerships in York and Hull last August.
In March it added three further Audi dealerships in Boston, Lincoln and Grimsby.
The group now employs 1,350 staff at its 48 dealerships throughout Yorkshire, Derbyshire, Lincolnshire and the North East.
JCT600 finance director Nigel Shaw said: “2008 was particularly tough for the car industry, but we successfully weathered the storm and believe that the worst is now over.
“During the last year, we have strengthened our position by reducing costs and implementing creative marketing initiatives, with a particular focus on improving our online presence, as well as building our used car stocks to take advantage of the impetus provided by the scrappage scheme.”
John Tordoff, chief executive of JCT600, added: “We were able to establish a strong platform from which to further expand the group and we took the opportunity of adding the prestigious Audi marque to complement our existing offering as well as increasing our geographic coverage.
“We expect the addition of these established franchises to have a significant impact on further growing our sales.”
JCT600 said it was seeing signs of returning consumer confidence following its best week ever in March. A total of 632 retail cars with a value of more than £10m were sold.
The JCT600 group, which has its head office in Bradford, is a family business with a 60 year history.
It operates dealerships selling 22 of the world’s most respected brands such as Aston Martin, Bentley, BMW, Ferrari, Maserati, Mercedes-Benz, Porsche and Volkswagen.
