Last year's pre-tax profits were £43.3 million. Shares rose 117p to 532.5p on the strength of the result. The strength of sterling helped the results, allowing Kwik-Fit to import large quantities of lower-priced tyres into the UK. Sir Tom Farmer, Kwik-Fit's chairman, said: 'Kwik-Fit Fleet continues to innovate in the fleet and contract hire market. For the largest operators we now offer an exclusive supply contract based on a fixed fee per vehicle basis which is controlled from our computerised tyre management facility.'
Kwik-Fit Holland's sales and profits were up, and the company now has both a fleet and mobile tyre-fitting operation. In the UK, Kwik-Fit runs 600 centres, a fleet of 149 mobile tyre fitting vehicles, as well as a 25% equity holding in Apples Car Clinics' 75 sites, and a 33% holding in Hometune Motoring Services which operates 92 mobile servicing vehicles. And Kwik-Fit Insurance Services - which sells motor policies to private drivers - has continued to grow rapidly.