Fleet News

Dealer group profits rocket

DEALER group Charles Sidney has reported a 56% rise in profits thanks in part to a strong performance from its contract hire and rental operations. Pre-tax profits rose to £5.7 million (1995: £3.6 million) on turnover up 36% to £253 million (1995: £186 million), with the contract hire and rental division contributing £1.8 million to profits - an increase of 121%, according to figures released on Monday.

The group's contract hire and rental fleet grew by 21% to 3,200 vehicles in the year to August and continues to increase. Charles Sidney acquired BMG in January 1995 and after reorganisation and cost-cutting exercises, these franchises also made a significant contribution to profits.

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