Fleet News

Perry Group profits rise

SUCCESS in used car sales and crash repair activities helped Perry Group's operating profit rise from £8.1 million in 1995 to £10.3 million in 1996, according to chairman and chief executive Richard Allan. The company's preliminary results for 1996, published on Thursday, show that the group's turnover increased by 10% to £456 million and pre-tax profit rose by 26% to £8.3 million.

Allan said strong profit growth reported in 1995 was maintained during 1996, largely thanks to strong used car performances and the success of Perry Group's Nationwide Crash Repair Centres - both of which would be further expanded this year.

Plans are also in the pipeline for Perry Group's accident management company, which now looks after more than 100,000 vehicles. The motor division saw new vehicle sales increase by 6% in 1996, while used vehicle sales rose by 14%. Turnover for the group's contract hire operation dropped by £19,000, remaining just above the £7 million mark. However, Allan said it had shown a respectable performance and that there was still potential for contract hire despite an influx of companies entering the market.

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