GAP targets £100m turnover by 2008

Tool and plant hirer GAP is aiming to have a £100m turnover within the next four years by increasing its national coverage with a further 12 depots.

In order to provide better service to its national customers, GAP joint managing director, Douglas Anderson said: "We will continue our depot expansion, particularly across the south of England including central London and towns such as Oxford, Exeter and Maidstone."

GAP currently operates from 47 depots and has recently opened a Portsmouth branch.

The family-owned Group has announced a turnover of £49.4m for the period 2003/04, maintaining its 17% year on year growth for the past 20 years. Meanwhile, profits increased 22% to £6.3m from £5.2m for the previous year.

GAP said its hire fleet gross book value now stands at £92m, up from £78m, while re-investment in tools and plant of £20m, some 45% of turnover, outstrips all of its competitors.