Johnson And Perrott profits fall 7%

PROFITS at Cork car dealers Johnson & Perrott slid 7% to €5.3 million last year despite a 3% increase in revenues.

The family-owned motor dealership, car hire and fleet specialist said turnover edged up €4m to €129m but blamed increased competition in the car hire market for putting pressure on margins. The company’s gross profit margin fell from 8.4% to 7.1%, which meant the company kept €1.30 less from every €100 in sales.

But group chief executive Mark Whitaker said he was pleased with the results, which covered the year to December 2004, but warned the competitive pressures had continued into 2005. Mr Whitaker was upbeat about the group’s prospects, however.