Yorkshire motor retailer, JCT600, has delivered a strong performance with turnover hitting a record £1.277 billion despite challenges in the automotive sector.
For 2018, the Bradford-headquartered business focused on its used car sales operation and aftersales services as well as keeping a tight control on costs.
The reason being that the company recognised that new car sales in 2018 would continue to be challenging due to economic uncertainty caused by Brexit, alongside supply problems resulting from the WLTP regulations.
While there was a UK market reduction of 2.1% on used vehicle sales, JCT600 increased this key part of its business by 9%; and it also grew revenues from aftersales by 3.9%. This strategy helped to offset an 8.4% fall in new car sales on a like for like basis.
As well as increasing turnover, the group also saw a slight uplift in operating profit before exceptional items, rising from £23.1 million in 2017 to £23.2 million for the year ending 31 December 2018.
During the year, JCT600 continued its commitment to improving the customer experience by upgrading its showrooms, investing a total of £9 million including major refurbishments at Porsche Sheffield and Porsche Newcastle as well as creating a new call centre in Chesterfield.
In addition, the group acquired the two Jaguar and Land Rover dealerships in Doncaster last July, and in September announced that it would be representing Rolls-Royce Motor Cars in Leeds.
The group also increased investment in its digital platform by 14% in 2018, with the number of visitors to the website rising by 20% and smart phone traffic growing by 33%.
The total number of web leads generated increased by 15%, and followers of JCT600’s four main social media channels rose by 51%.
John Tordoff, Chief Executive of JCT600, said: “As a long-established Yorkshire-based business with a reputation for leading the way in the automotive sector, we are proving able to continue to outperform the market.
“While keeping customers firmly at the core of everything we do, we are nimble enough to be able to adapt to changing conditions while continuing to invest for the future.”
Nigel Shaw, Group Finance Director at JCT600, added: “It has been a challenging year for the new car market with supply issues caused by the introduction of the WLTP emissions regime resulting in restrictions in many brands.
“However, we have been able to focus on developing other areas of our operations, such as used car sales and aftersales services, as well as keeping a close eye on costs in order to grow our revenue.
“It’s also encouraging that despite ongoing Brexit uncertainty, customer confidence and economic performance remain relatively strong, boosted by low unemployment and interest rates.”