RECORD-breaking sales and revenue have been recorded over the past year by Bradford-based car retailer JCT600.

The company achieved revenues of £1.222 billion in 2016, an increase of almost seven per cent on the previous year’s figure of £1.145 billion.

The company also had record levels of sales of both new and used vehicles, including aftersales.

However, due to an over-supply of vehicles driving profit margins down, and operating costs rising, JCT600’s overall operating profit has fallen to £17.9 million from £20.7 million in 2015.

In the past year the company has also redeveloped a number of its dealerships, including its Vauxhall Bradford showroom, and is opening a new centre in Stockton-on-Tees next month.

It has also been named in the Best 100 Companies to Work For, rising 27 places to 57th.

John Tordoff, chief executive at JCT600, said the rising number of used car sales was the reason for the squeeze on profits.

He said: “We are delighted with the revenue and sales, but we’re disappointed by the bottom line of a drop in profits.

“Last year, the UK’s national new car market hit a record of 2.7 million registrations which, on the face of it, suggests the industry is in rude health, however, a significant number of these vehicles were pre-registered by dealers in order to achieve manufacturer targets.

“With many of these vehicles subsequently being sold as used cars, this resulted in a significant downward pressure on both new and used vehicle profit margins

“It all relies on customer confidence and at the moment we are seeing quite robust and resilient customer confidence.”

Nigel Shaw, group finance director at JCT600, said: “Last year, many of our brands put in strong performances and, despite uncertainty in the UK economy in the aftermath of the Brexit vote, so far customer confidence remains strong.”

On Brexit, Mr Tordoff added: “We’re not the only ones defying expectations.

“Most of the things predicted have turned out to be wrong and the reality is people are just getting on with it.

“A lot of businesses including us are not really seeing any impact from Brexit so far.”