Marking another year of record turnover with revenues reaching £1.251 billion, a 2% rise from £1.226 billion the previous year, we have displayed a strong performance in the face of challenging market conditions with fierce competition continuing.
Despite falling demand for new vehicles in the UK car market, our strong performance in the retail sector showed only a modest decline, significantly outperforming the overall market, whilst a strategic focus on the sales of used vehicles and aftersales provided another year of growth in these key areas.
Together with the growth in sales, we also saw an improvement in our gross profits and that, together with a tight control of expenses right across our business, provided an increase in our operating profit before exceptional items to £19.1m.
Throughout the year, we have continued to invest in our ongoing programme of new premises and redevelopments with a further £7m being spent. This included the opening of our brand new Porsche Centre in Teesside as well as major refurbishments at our Mercedes-Benz Sheffield and Peugeot Bradford.
John Tordoff, chief executive of JCT600, commented: “Whilst there was definitely a degree of uncertainty in the UK economy last year which made trading conditions a challenge, the confidence of our customers appears to be resilient. Given the strength and longevity of the JCT600 name, the company is continuing to outperform the market as we stick to our core value of being a ‘Trusted’ partner for our colleagues, customers and our brand partners.”
Nigel Shaw, group finance director at JCT600, comments: “Despite strong competition both from other physical retailers and from the internet-based dealers, our ongoing investment in people, dealerships and systems is enabling us to retain our competitive advantage.”
Maintaining and developing an outstanding digital platform for our customers continues to be a priority for us, seeing total visitors to our website and social media channels increasing significantly once again.
Added: 07 June 2018