JCT600: Yorkshire-based automotive retailer hails 'strong' results as it cuts expenses
Automotive retailer JCT600 has hailed a “strong” set of results as the company said it had reduced its expenses.
Revenues for the Yorkshire-based firm fell slightly last year, landing at £1.326bn for the year ending 31 December, compared to £1.334bn a year prior. Pre-tax profit for the firm remained flat at just over £20.1m
It came as the company said it had seen improved employee satisfaction and a reduction in staff turnover.
The firm said the reduction, as well as an appeal for cost-saving ideas from its shop floors, had enabled a reduction in expenses, despite rising cost pressures across the automotive sector.
Founded in Bradford in 1946, family-owned business JCT600 is one of the UK’s largest independent automotive retailers, employing more than 2,150 people and representing 20 brands across a network of dealerships in Yorkshire, the North East and the Midlands.
JCT600 executive chairman, John Tordoff, said: “Over the last few years, we’ve made a deliberate and sustained investment in both our colleagues and our customers to support long-term growth.
“What we are now seeing is the impact of that approach coming through in our performance.
“A happier, more engaged team delivers a better experience. Customers notice that, they value it, and they choose to come back.
“That is now translating into stronger results for the business.”
JCT600 also continued to improve its rankings across all measures during the period, as the firm said customers had “responded positively” to its investment in showrooms.
While new car sales saw a 2.1 per cent decline, consistent with broader market pressures, the business achieved a 2.1 per cent increase in used vehicle sales and a five per cent rise in service turnover, outperforming UK industry averages in both areas.
The firm also outperformed the wider UK market within its brand portfolio, achieving approximately 0.5 per cent higher new vehicle registration share compared to competitors.
Mr Tordoff added that the firm was continuing to “look closely at cost control and efficiencies”.
He said this was mainly through technology and “improved systems”.
He added: “At the same time, we are investing in our physical environments, expanding our electric vehicle charging infrastructure, and supporting future growth, while continuing to strengthen our environmental sustainability through renewable energy, improved energy monitoring, and more effective management of waste and water.
“JCT600 turns 80 years old this summer. We’re encouraged to see more customers than ever actively choosing to do business with us.
“It shows that our focus on experience is not only improving satisfaction but also strengthening our competitive position and hopefully guaranteeing us another 80 years in business.
“We genuinely care about our colleagues, and in turn they care about our customers. That connection is what sets us apart and is increasingly driving our success.”