Fleet News

Pathfinder document values BCH at £35-£40m as it prepares for flotation

BCH Group plc has published a pathfinder document in preparation for its stock market flotation in November which is estimated to value the company at £35-£40 million. The document forecasts growth for the Bristol-based leasing and fleet management company, and predicts an operating profit of £3.5 million on a turnover of £54.5 million for the year ending December 31, 1997.

For the financial year ending December 31, 1996 the company made an operating profit of £2.3 million on a turnover of £35,758,000. The company anticipates further growth in the contract hire market as more businesses tune in to the benefits of outsourcing their vehicle management requirements.

On the PCP side, BCH launched a scheme called autoChoice in June this year which provides flexible contract terms for new and used vehicles, including the option of maintenance, insurance and payment protection. The company is also planning substantial growth for its retail site, Motormart, which sells ex-contract hire vehicles. The Bristol site holds 100 vehicles, but this is set to increase to 250 in the new year, and eventually 350 when adjacent land is bought.

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