JCT600 accelerates beyond £1bn barrier

JCT600, the Bradford-based new and used motor retailer, has increased revenues by 13% and drove through the £1bn milestone.

In the financial year ending 31 December 2014, JCT600’s revenues totalled £1.025bn, which is a substantial rise from the previous year’s sales of £906m.

Operating profit before goodwill and exceptionals increased by 14% to £23.2m in 2014, which is mainly due to the firm’s continued expansion, with gross margins almost static at 11.7% (11.8% in 2013).

Continuing to sell more new cars than previous years, JCT600 performed stronger than the market with the firm’s new car sales increasing by 12% compared with the UK average rise of 7%.

JCT600, which operates out of 50 dealerships and represents 19 new vehicle brands, has dealerships across from Yorkshire and the North East to Derbyshire, Lincolnshire and Nottinghamshire, and employs over 2,000 staff.

John Tordoff, chief executive of JCT600, said: “Following our acquisitions from Gilder Group in 2013, last year was about bringing the new businesses into the JCT600 fold, and furthering our aims to grow the best car retail business, as well as being the best place to shop for a car.

“Outperforming the market in new car sales is a signal that our retail offering, service standards and pricing are winning over customers in a market which boasts plenty of choice, and that’s down to good strategy, great colleagues and hard work.”

With an aim of focusing on online car purchasers, the firm invested significantly in both headcount and technology in 2014, which subsequently saw web traffic grow by 16% over the year, and mobile search traffic increased by 58%.

Nigel Shaw, group finance director at JCT600, said: “This year also looks promising for us as a business. With the General Election safely behind us, we can look forward to a more stable outlook ahead which will allow consumer confidence to maintain its upwards trend.

“We aren’t aggressive about expansion, rather maintaining quality is our primary strategy. However, we are in a good position for strategic growth with relatively low gearing for the sector. We continue to look at acquisition and organic growth in our existing and new regions where opportunities of the right quality are available.”