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JCT600 increases profits on back of new and used car sales boost

Family-owned top 20 AM100 group JCT600 has increased pre-tax profits from £8.5 million to £12.5 million in 2012 on the back of a 17.8% increase in new car turnover and a 6% rise in used car turnover.

Turnover increased by £46m to £669m in the year to December 31, 2012, up 7.4% from £623m in 2011.
The group said a tight control on costs, strong sales process and enhanced buying team helped the group to post a profit.

JCT600 also made strategic property investments of £3.8m during the year.

JCT600 group chief executive John Tordoff  said: “While 2012 has seen on-going economic uncertainty, we have continued to weather the storm.

“We expect the improved customer confidence we’ve seen over the last year to continue and already we’ve experienced a strong start to the year with new and used car sales ahead of the market as they were last year.

“Although competition remains strong, our continual investment in people, facilities and systems enables us to lead the way in implementing new industry-leading initiatives which keep the customer at the centre of our business.”

JCT600 also saw aftersales turnover increase by 0.8% in 2012, supported by an improved customer contact system and electronic vehicle health check service.

The group is expecting a significant increase in turnover over the next year following the acquisition of the share capital of Gilder Group in February 2013 for an eight figure sum.

The deal added two Audi, four Volkswagen and a Seat dealership as well as two VW Commercial Vehicle dealerships, two parts depots and a bodyshop.

Tordoff said: “The recent acquisition of nine additional dealerships in South Yorkshire, Derbyshire and Nottinghamshire will support our continued growth, adding over 30% to our revenues and strengthening our geographic reach.

“It also grows our team by a third and continuing to invest in on going staff training and development will remain a key focus.”

JCT600 has 47 dealerships throughout Yorkshire, Derbyshire, Lincolnshire and the North East and sells 19 of the world’s most respected brands such as Aston Martin, Audi, Bentley, BMW/Mini, Ferrari, Maserati, Mercedes-Benz, Porsche, Vauxhall and Volkswagen.

The group now employs a workforce of 1,800 people.

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