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Profit jump for Brandon
00:00 22 Aug 1996
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Brandon Hire's interim results show a big jump in pre-tax profit to
œ901,000. The group made œ203,000 in the same period last
year.
Turnover during the six months to June reached œ9.8 million - a healthy increase of 51%.
Chief executive John Laycock reported: "Although the results are encouraging, the tool hire market itself is pretty dull. Our results indicate increased market share. Growth is at the expense of our competitors - we're taking extra turnover off smaller companies."
Three years ago the Bristol-based group that hires out tool and catering equipment was in the red. The latest results, announced this week, put it in the black for two years running. They are welcome news at a time when other hirers such as Hewden and Vibroplant are less enthusiastic about returns.
During the past year Brandon Hire has increased its number of tool hire depots from 17 to 46, all in Southern England and Wales. Rent-Equip, a Bournemouth-based tool hire company with five depots, was acquired in May.
Turnover during the six months to June reached œ9.8 million - a healthy increase of 51%.
Chief executive John Laycock reported: "Although the results are encouraging, the tool hire market itself is pretty dull. Our results indicate increased market share. Growth is at the expense of our competitors - we're taking extra turnover off smaller companies."
Three years ago the Bristol-based group that hires out tool and catering equipment was in the red. The latest results, announced this week, put it in the black for two years running. They are welcome news at a time when other hirers such as Hewden and Vibroplant are less enthusiastic about returns.
During the past year Brandon Hire has increased its number of tool hire depots from 17 to 46, all in Southern England and Wales. Rent-Equip, a Bournemouth-based tool hire company with five depots, was acquired in May.
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