Fleet News

Minorplanet plans growth

MINORPLANET is planning a massive increase in sales of its vehicle data recorders as well as launching into America following recent moves into Europe and Australia after breaking into the black.

The company has reported turnover up 166% to £17.3 million for the year to August 31 with pre-tax profits of £686,000 after reporting a 1999 loss of £431,000. Sales of its in-vehicle data collection units increased 147% to 14,600 with 533 new customers signed up to take the total number of customers to 1,031. Since launch to August 31, the company has installed 22,770 data collection units in vehicles in the UK. GE Capital Fleet Services, which has an 18% shareholding in Minorplanet has installed 4,900 units in cars on its UK-based contract hire fleet.

While most customers sign up for three-year leases of the data collection units, Minorplanet says about half of customers are now signing up for five-year leases.

A further 870 units have been installed in vehicles operated by GE Capital Fleet Services' sister company TLS and the units are also being marketed to AON Risk Services' customers in the UK.

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