The retail group JCT600 announced a mixed result in its 2007
year-end accounts, with “organic” turnover up 3.3 per cent year on
year to £555m, but with like-for-like operating profits down 8.8
per cent to £14.9m, due to “reduced margins in vehicle sales and
increased expenses,” JCT600 said.
Pre-tax profit stood at £11.2m, representing a return on sales
of 1.9 per cent, above the industry average of around 1 per cent.
JCT600’s gearing ratio stands at 29 per cent, it was reported,
giving the company “sufficient funding headroom […] to take full
advantage of any new opportunities”.
Go deeper with GlobalData
JCT600 acquired two new dealerships in April 2007, Vauxhall
Castleford and Bentley Newcastle, and its Leeds Porsche centre was
relocated in July.
The northern-based group has 42 outlets representing 20
franchises and also offers contract hire, among other services. Its
contract hire division reported profit growth of 14 per cent,
thanks to “an increased contribution from end of contract
disposals, as a result of a healthy used vehicle market”, along
with a policy of setting “cautious” residual valuations.
Group chairman Jack Tordoff was awarded an MBE in the 2008
Honours List, and the company was given the ‘Best UK Family
Business – Northern Region’ award in the Coutts prize for Family
Business 2007/2008.
Motor Finance Issue: 44 – June 08
by Jo Tacon ,
Published for the web: June 25 08 16:44
Last Updated: June 25 08 16:45
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
