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JCT600 turned in a strong performance in 2022 with pre-tax profits of £43m compared to £45m in 2021, an exceptional year for used car sales. Turnover rose 11% to £1.45bn.
It sold fewer new and used cars, but the mix was more premium leading to a 20% increase in the average sale price.
During the year it parted company with Stellantis with the closure of Vauxhall, Peugeot and Citroen sites in Bradford.
It expanded business with a new solus Ferrari outlet in Leeds and bought Caygill Holdings’ VW van centre in Cleckheaton, aftersales business in Leeds and VW used van sales and preparation centre in Batley.
It kept a tight hold on costs with like for like expenses rising 4% in a highly inflationary market. The level of vehicle stock held at year end was £171m compared to £150m in 2021 as demonstrator and courtesy car volumes returned to pre pandemic levels.
Used vehicle turnover increased by 7.3% and gross profit margins decreased buy 18% after showing a 26.9% increase in an exceptional 2021.
New vehicle turnover rose by 17% and gross profits margins increased by 13%.
Aftersales turnover increased by 7.8% while gross profit was maintained, a performance it described as “exceptional” given the rise in technicians wages.