Fleet News

Toad doubles turnover to £9.6 million

A RESTRUCTURE within the car audio and security distribution specialist Toad has seen it double its turnover from £4.7 million in 1997 to £9.6 million this year. On Monday, the troubled group announced losses, before exceptionals and tax more than halved to £2.1 million, a decrease of 53% (1997: £4.5 million).

During the restructure the company made several key acquisitions - Sigma, Laserline and The Sextons Group - and set up an exclusive distribution agreement with Spacetrac. Toad has also announced acquisitions of assets from Foxguard and Code Alarms, strengthening its position in the vehicle alarm industry, a distribution agreement in the USA, along with winning a new £3 million contract with Royal & SunAlliance to supply car audio equipment to policy holders.

There will be a reorganisation of the company's board at the forthcoming annual meeting which will see Kevin Gray resume his role as a non-executive director, following the successful reorganisation of the business, with John Lewin to succeed as chief executive.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment


No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee