Fleet News

Solid growth for LDV

SPECIALIST van-maker LDV increased sales by 17% during another year of solid growth. However, the additional costs of launching the new Pilot and Convoy ranges saw operating profits dip by £1 million to £20.5 million against a background of increasing revenue and the Birmingham-based manufacturer is already developing new products for the millennium.

Turnover increased by 6% to £229 million (1995: £216 million) while net assets were up 29% to £48.7 million (1995: £37.6 million). Total van sales increased by around 3,000 units to 17,684, with both fleet and retail sales increasingly sharply despite trading conditions described by chief executive Allan Amey as 'tight'.

Amey said the two new product lines would broaden LDV's customer base both at home and abroad with evidence coming in the shape of an order for 60 Convoys from the West of Scotland Water Authority alongside 20 factory tippers.

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