Fleet News

Charles Sidney's pre-tax profits static

LEASING and rental expansion and improved profitability contributed to static pre-tax profits at motor distributor Charles Sidney which saw a disappointing performance from its heavy truck division. In the six months to June 30, the group reported pre-tax profits of £2.65 million (1996: £2.67 million) - buoyed up by its expanding contract hire business and strong sales of prestige cars. Turnover remained similarly static at £124.4 million (£128.2 million).

Car sales were buoyant, with profits from the Mercedes-Benz dealers remaining healthy on the back of an 18% increase in sales. The remainder of the group's profits came from the contract hire and rental division, BMG Contracts, which made a contribution of £1.2 million - up £400,000 on last year's figure. BMG Contracts' fleet increased by a further 20% to 3,700 with further growth predicted over the next six months.

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