Crane hirers reach new heights as profits rise

Despite the recent demise of Baldwins, crane hirers have proven a beacon of profitability in the plant industry.

In The Sunday Times Profit Track 100 list of companies with the greatest profit growth over the past three years, crane hirers occupy two out of only four spots awarded to the industry.

The acquisitive Ainscough Group led the way, occupying 60th spot, with an annual profit growth over the past three years of 44%, from £2.6m in 1999 to £7.9m in 2002. Scottish crawler crane hirer Weldex took 93rd place, with a 33% yearly increase (from £1.4m in 1999 to £3.3m last year).

The only other plant hirer on the list was Glasgow-based Gap Group, whose profit rose 31% per year over three years to £6.3m in 2002.

Crushing and screening manufacturer Extec was the list's fourth plant representative. Following last year's £56m management buy-out, profit last year reached £10.2m, a 38% increase per year from 1999.

Earthmoving contractor CA Blackwell and demolition firm DSM also made the list, coming in at 41st and 72nd respectively.

* An alternative list - the Deloitte & Touche Indy 100, published in The Independent - featured only one plant company. The Lavendon Group, parent company of access hirer Nationwide, came in at 79th on the list, which was based on sales growth over the past four years rather than increases in profit.