JCT600 announces record results as turnover hits £1.2bn

JCT600, the Bradford-headquartered car retailer, has achieved record revenues of £1.222bn, an increase of almost 7% since the previous year.

For the 2016 financial year, JCT600 reported that both new and used vehicle sales, as well as after sales, performed at record levels resulting in significantly increased revenue.

However, with over supply driving vehicle profit margins down and operating costs rising, overall operating profit before exceptionals decreased to £17.9m (2015: £20.7m).

Throughout the year, JCT600 continued to invest in its 50-strong network of dealerships with redevelopments taking place at Audi Lincoln, Bentley Leeds and Newcastle, Mazda Leeds, Volkswagen Hull, Rotherham and York, Volkswagen Commercial Vehicles Hull and Vauxhall Bradford.

The group also started work on Porsche Centre Teesside which is due to open in June.

In addition, JCT600 continued to invest in the development of its digital platform which saw total visitors increase substantially in the year as more and more customers research their next car purchase online.

John Tordoff, chief executive of JCT600, commented: “Last year, the UK’s national new car market hit a record of 2.7m registrations which, on the face of it, suggests the industry is in rude health, however, a significant number of these vehicles were pre-registered by dealers in order to achieve manufacturer targets.

“With many of these vehicles subsequently being sold as used cars, this resulted in a significant downward pressure on both new and used vehicle profit margins.

“However, with over 70 years’ experience in the industry, we are well-versed in the vagaries of the market and remain committed to providing great value and outstanding service which we know will keep our customers coming back to us.

“As part of this ethos, we are continuing to invest in both our dealerships and our online showroom to ensure the customer journey is as smooth and seamless as possible when shopping with us, and we are also continuing to expand our geographic reach with the opening of a brand new Porsche Centre in Stockton-On-Tees this summer.

“We have also made significant progress in our quest to be ‘the best place to work’, rising a massive 27 places to take the 57th position in the Sunday Times ‘Best 100 Companies to Work For’ ranking for 2017.”

Nigel Shaw, group finance director at JCT600, added: “Last year, many of our brands put in strong performances and, despite uncertainty in the UK economy in the aftermath of the Brexit vote, so far customer confidence remains strong.

“As a well-established business with a strong reputation and a loyal customer base, we are looking forward to further growth.”

Founded in 1946 as Brooklands Garage on Sticker Lane, Bradford, by current chairman Jack Tordoff, JCT600 operates out of 50 dealerships in Yorkshire and the North East to Derbyshire, Lincolnshire and Nottinghamshire.