JCT600 chief executive John Tordoff wants the group to be “the real force” for Yorkshire’s VW buyers. “We’ve been wanting to expand with VW for some time,” he says. “Our existing operation in Wakefield is very successful so we now own three of the best sites in the country.”
The group reports strong results for 2004, with turnover increased to £453m against £415m the previous year, and operating profits up to £12.4m from £11.1m.
Profit from its volume franchises grew 20%, while the prestige and luxury division, which includes Aston Martin, Porsche and Bentley, rose by 17%. Its contract hire operation achieved record profits of £1.9m – an increase of 45% - while aftersales and daily rental increased profits by 20%.
Tordoff expects similar achievements this year. “After the first four months our profits are up £1m despite the overall decline in the market,” he says.
The group is set to receive a VAT refund from HM Revenue and Customs later this year, although Tordoff adds: “It’s not going to be huge figures.”
Early next year, JCT600 will open a new Porsche centre in Leeds and a Peugeot showroom in Bradford.