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The Joe Duffy Group has released its financial statement for the period up to 31 December 2015. It posted a pre-tax profit of €7.4 million, up 58 per cent, while its turnover was €240.6 million, a record for the company. Commenting on the results, Gavin Hydes, Group Chief Executive, said: "2015 has been another outstanding year of growth for the Group. We are pleased to have delivered another strong trading performance in 2015, and we have now had six consecutive years of increased profits. We are set to continue our growth strategy with a €20m capital investment programme in new facilities planned over the next three years."
Over the previous few years, the Joe Duffy Group has acquired a number of new premises and has taken on additional franchises, bringing the total number of brands to twelve. The Group currently employs 336, and this number is expected to grow.
Hydes added: "We are confident that our robust business model will deliver another strong performance and forecast turnover of c. €285million for 2016. We will also extend our Joe Duffy branding to our three VW businesses, Ford, Volvo, Kia and Jaguar Land Rover businesses this year. November 2016 will see further developments to our online platform, joeduffy.ie, the "Digital Dealership", with additional features including customer-led technologies which represent a first for our industry, for used cars in particular. We wanted to give our customers and potential customers a much improved online experience. As Ireland's most progressive motor retailers, we will continue with our significant investment strategy to provide our customers, manufacturer partners and team members with state-of-the-art facilities and investing heavily in the digital arena."