Fleet News

Charles Sidney's lease business up

DEALER group Charles Sidney's contract hire operation helped the company almost double overall profits after increasing its fleet size by 30%. In the 16 months to the end of December 1996, pre-tax profits increased from £3.7 million in 1995 to £6.0 million as turnover increased from £186 million to £326 million.

The dealer-based contract hire and rental operation now runs 3,500 vehicles and doubled its profits after unprecedented growth over the last year. Charles Sidney chairman Raymond Edwards said: 'We are now a balanced motor vehicle distribution group with three distinct divisions - Mercedes Benz, volume dealerships and contract hire and rental - which we will continue to develop and grow successfully.'

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