JCT600 has reported a 2% rise in turnover to £1.25 billion in the face of “challenging market conditions”, adding that it expects “fierce competition” to continue in the automotive retail sector.
The Bradford-headquartered AM100 retail group also managed to record an increase in the group’s gross profit and operating profit, which saw an increase before exceptional items to £19.1m, according to a statement issued today.
JCT600 said that its performance in the retail sector showed only a modest decline, significantly outperforming the overall market, whilst crediting its growth on a strategic focus on the sales of used vehicles and aftersales.
John Tordoff, chief executive of JCT600, said: “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.”
The statement issued by JCT600 revealed how the group had continued to invest in its ongoing programme of new premises and redevelopments during the reported period, to December 31, 2017, with a further £7m being spent.
This included the opening of a brand new Porsche Centre in Teesside as well as major refurbishments at Mercedes-Benz Sheffield and Peugeot Bradford.
Nigel Shaw, group finance director at JCT600, said: “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.”
This year has seen the group’s founder, Jack Tordoff, inducted to the AM Hall of Fame at the AM Awards 2018, in February, and also receive an honour from the Yorkshire Society for his outstanding contribution to the county.
Tordoff followed in the footsteps of former Lord Mayor of London, Sir David Wootton (2017), and actress Dame Judy Dench (2016) to land the annual Yorkshire Awards’ Liftetime Achievement Award.
Quoted in Bradford’s Telegraph and Argus newspaper, Tordoff said: “After 72 years of business, at JCT600 we remain true to our Yorkshire heritage, we are still a family business committed to putting our customers first, and I feel honoured for our achievements and contribution to the region to be recognised in this way.”
Tordoff started his automotive career in the family garage as an apprentice at 15, shortly after the death of his father.
Initially, that meant fetching tea and newspapers for the mechanics and sweeping up, but before long there weren’t many jobs he couldn’t do.
Tordoff took a break from the business to complete his National Service, which might have led to a different life. He thrived in the Army and was encouraged to stay, but he honoured a promise to his mother that he would return to the garage, expanding its remit into car sales.
Today JCT600 is Yorkshire’s largest private company and ranks in The Sunday Times 100 Best Companies To Work For, with a £1.2 billion turnover, 50 dealerships and 2,200 staff