Syndicated News

Motor group to create 50 jobs with €15m investment in dealership cluster

Cork-based motor group Johnson & Perrott is to open the first phase of a €15m dealership cluster at Bishopstown in Cork today.

The overall project will deliver 50 jobs.

“Our dealership in Bishopstown is the largest purpose-built new facility for Jaguar and Land Rover in the country and is a key step in positioning Johnson & Perrott as a leader in motor retailing for Cork city and county,” Mark Whittaker, CEO of the group, said. He added that the investment “represents a huge vote of confidence in the health of the motor industry”.

The opening of the showrooms follows pre-tax profits at the motor group last year increasing by 33pc to €6.6m.

Accounts filed by Johnson & Perrott show that the group enjoyed the increase in profits as revenues decreased by 2.6pc, going from €88.5m to €86.18m in the 12 months to the end of December last.

The firm paid a dividend of €675,000 last year, following a dividend payout of €645,750 in 2016.

The company is one of the best-known family businesses in Cork and has a long association with transportation in Ireland, dating back to the coach-building era in 1810.

The group last year achieved an increase in pre-tax profits only after recording a profit of €2.78m on the sale of investment properties. The accounts state that the group intends to open a second dealership at the cluster in Bishopstown in December.

Article Source: http://tinyurl.com/kbwqb42

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