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Gap Group profits up to £7.7m
16:58 28 Jun 2005
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Gap Group, the Glasgow-based small plant and tool hirer has reported a 14% increase in turnover to £56m and a pre-tax profit of £7.7m (£6.3m) for the year ending 30 April 2005.
The company said during the year its hire fleet gross book value grew to £111m from £92m, primarily as a result of a £29m investment in new equipment.
Joint managing director Douglas Anderson commented: “As a percentage of our turnover, we invest more in new tools and plant than out competitors.”
During the next two months Gap is planning to open four new depots in Oxford, Kentish Town (London), Exeter and Plymouth, bringing its total network to 54 depots.
“With these developments we are now a true national hirer covering 90% of the UK,” added Anderson.
The company is also relocating and upgrading some of its branches to new purpose-built premises beginning with Northampton and Dundee.
The company said during the year its hire fleet gross book value grew to £111m from £92m, primarily as a result of a £29m investment in new equipment.
Joint managing director Douglas Anderson commented: “As a percentage of our turnover, we invest more in new tools and plant than out competitors.”
During the next two months Gap is planning to open four new depots in Oxford, Kentish Town (London), Exeter and Plymouth, bringing its total network to 54 depots.
“With these developments we are now a true national hirer covering 90% of the UK,” added Anderson.
The company is also relocating and upgrading some of its branches to new purpose-built premises beginning with Northampton and Dundee.
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