Fleet News

Hire firm's profits steady at £1.1m

ROCKETING growth at contract hire and fleet management firm Powermarque produced profits in the past six months that almost matched trading last year.

The firm, part of water firm AWG, made a pre-tax profit of £1.1 million on turnover of £26 million for the half-year to September 30, compared to £31 million turnover and £1.3 million pre-tax profit for the whole of the previous year.

AWG chairman Robin Gourlay said: 'The Powermarque fleet management business continues to perform strongly, winning new business worth £12 million during the period under review.'

Powermarque, which has a fleet of more than 22,000 vehicles, is targeting further expansion following a move to new offices in Huntingdon. This year, it scooped Best New Fleet Company at the Fleet News Awards.

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