MOTOR group Ryland has seen profits jump in the first six months of the year, helped by strong growth in its contract hire operation Ryland Multifleet. Interim results show a 20% increase in pre-tax profits (excluding exceptional items) to £2.8m (1996: £2.35m), with total pre-tax profit hitting £3m. Turnover rose to £240.2m (1996: £175.15m).

Chairman Peter Whale said the first half had been buoyant with outstanding performances from the company's contract hire and specialist car activities. He said: 'Innovative marketing initiatives continue to be developed within our contract hire operations, yielding excellent profit growth. The overall fleet has now risen by 71% year on year (32% on a like for like basis) to almost 10,500 units.'

The specialist car operations' new car volumes were up 73% (27% on a like for like basis) and used car volumes up 71% in total (25% like for like). Whale said strong organic growth from the group's existing business portfolio had raised operating profit 30% to £4m, with acquisitions contributing a further £0.1m.

The first half of the year saw Ryland acquire Audi/Volkswagen operations in Stoke-on-Trent and Stafford, extend its Renault territory in Coventry to include a satellite in Leamington/Warwick and purchase its first Fiat/Alfa Romeo dealership. It disposed of the Ford dealership at Wolverhampton, but was awarded sole Ford representation in Northampton and Daventry - marking the second Ford acquisition by the company in the last year.