Above average car sales boost Cork dealer’s profits

Pre-tax profits at Cork-based motor group Johnson & Perrott increased by 7% to €5m last year, as revenues also soared.

Above average car sales boost Cork dealer’s profits

Newly-filed accounts for the group show revenues jumped 14.5% to €88.5m in 2016.

The group is controlled by the Whitaker family and is one of the best known family-owned businesses in Cork.

As of the end of the year the group had accumulated profits of €61.85m. However, its cashpile declined from €11.4m to €6.1m.

Management said good growth was recorded across all of the group’s business areas.

Its motor dealership business delivered a strong performance with the increase seen in the sale of new cars being ahead of the national average for the year.

Numbers employed by the group increased from 105 to 119 during the year. Staff costs increased from €5.1m to €5.7m and directors’ pay marginally rose to €480,000.

“The strength of our statement of financial position, the robust nature of our business model and the quality of our management team provides us with the flexibility to take advantage of the opportunities that present themselves with the continued consolidation taking place in the marketplace,” management said in the accounts.

The group said that its dealerships also had a significant increase in demand for after-sales services as a result of the strong growth in vehicle sales over the past few years.

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