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GAP looks to new depots for growth
17:30 14 Jul 2004
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Tool and plant hirer GAP is aiming to have a £100m turnover
within the next five years by increasing its national coverage with
a further 15 depots.
GAP joint managing director Douglas Anderson told CJ: "We will continue our depot expansion, particularly across the south of England, including central London and towns such as Oxford, Exeter and Maidstone."
GAP operates from 47 depots and has recently opened a Portsmouth branch. The family-owned group announced a turnover of £49.4m for the 2003/04 period, maintaining its year-on-year growth for the past
20 years. Profit increased
22% from £5.2m to £6.3m.
GAP said its hire fleet gross book value now stands at £92m, up from £78m, while investment in tools and plant of £20m, 45% of turnover, outstrips competitors.
"The tool hire market is buoyant," Anderson said. "Con-sequently we are confident of increasing our 2% to 3% UK market share," he added.
GAP joint managing director Douglas Anderson told CJ: "We will continue our depot expansion, particularly across the south of England, including central London and towns such as Oxford, Exeter and Maidstone."
GAP operates from 47 depots and has recently opened a Portsmouth branch. The family-owned group announced a turnover of £49.4m for the 2003/04 period, maintaining its year-on-year growth for the past
20 years. Profit increased
22% from £5.2m to £6.3m.
GAP said its hire fleet gross book value now stands at £92m, up from £78m, while investment in tools and plant of £20m, 45% of turnover, outstrips competitors.
"The tool hire market is buoyant," Anderson said. "Con-sequently we are confident of increasing our 2% to 3% UK market share," he added.
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