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JCT600 boosts profits by 30%

JCT600, the family owned Yorkshire car retailer, has posted a 36% increase in turnover to £909 million and a 30% increase in operating profits to £20.3m in the year to December 31, 2013.

The Bradford-based group saw a £241m increase in turnover which includes a 10-month contribution from the Gilder dealerships acquired by JCT600 in March 2013 comprising two Audi, four Volkswagen and a Seat dealership as well as two Volkswagen Commercial Vehicle dealerships, two parts depots and a body shop.

The group’s results were driven by a 46% increase in new vehicle sales (16% on a like-for-like basis).

JCT600 also saw used car sales increase by 32%, or 17% 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% (28% like-for-like) compared with an increase in the UK fleet market of 5.7%.

John Tordoff, JCT600 group chief executive, said: “The group has shown resilience throughout the downturn by focussing on tightly controlling costs while providing outstanding customer care.

“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% in the first quarter as customers take advantage of the excellent deals available and we are optimistic that this momentum will continue.”

JCT600 will be further investing in its website which has seen visits increase by 139% in the last year.

The group has 47 dealerships throughout Yorkshire, Derbyshire, Lincolnshire, Nottinghamshire and the North East and represents 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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