Fleet News

Helphire profits leap to £2.5m

PRE-tax profits at credit hire and credit repair services group Helphire rocketed 137% to £2.5 million (1997: £1.06 million) for the year to March 31, the company announced this week. The service is provided to motorists involved in no-fault accidents and the pre-tax profits boom comes as turnover rose 154% to £25.47 million (1997: £10.01 million).

The growth has been largely generated by the company's core activities of credit hire and credit repair, although several new products were launched during the year including a fleet accident management service, and Bike Assist. More than 2,600 car body repair shops are contracted to Helphire and recent initiatives have resulted in a 'substantial increase' in the number of referrals from insurance brokers and solicitors, according to the company.

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