Fleet News

TDG blames profit drop on rental division

TRANSPORT Development Group has blamed a £700,000 drop in pre-tax profits to £15 million for the first half of this year on 'disappointing' performance by its hire division, including TDG Vehicle Rental. However, operating profit was up at £14.5m, against £14.3m, helped by good growth in the company's logistics division. Turnover was down from £255.6m from £254.8m. Operating profits for the hire division, made up of TDG Vehicle Rental and plant hire business Cox, dropped to £1m, from £2.8m in 1996.

TDG Vehicle Rental currently operates a fleet of around 2,500 vehicles ranging from cars to trucks, but predominantly made up of lcvs. This includes a 750-vehicle contract hire fleet. The firm was launched in February, when TDG's rental company Swift and its 1995 acquisitions UK Vehicle Rentals and Adrian Truck Hire began trading under the TDG Vehicle Rental title.

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