Fleet News

Profits boost sees Perry on acquisition trail

PERRY Contract Hire is on the acquisition trail after a 30% increase in pre-tax profits made it a shining light in a disappointing set of results from Perry Group. A move away from very low margin fleet business cost Perry Group a 13% fall in its new vehicle sales last year, reducing its turnover by 1% to £510 million (1997: £517m), and cutting pre-tax profits to £8.6m (£10.1m), for the year ended December 31, 1998.

But Perry Contract Hire increased its pre-tax profits by 30% to £545,000 (£418,000) on turnover up to £10.3 million (£8.23m), and Perry Group chairman Richard Allan said buying another company of a similar size was now on the agenda. 'This business is small by industry standards and our strategy is to grow it by acquisition,' he said.

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