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.'

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee