Fleet News

Universal Salvage profits leap by a fifth

UNIVERSAL Salvage has announced end-of-year profits up 18% on the previous year. The firm, which auctions damaged cars bought from insurance companies, and scraps written-off vehicles, reported pre-tax profits for the year ending April 28, 2001 of £6.6 million, up from £5.5 million in 2000, on turnover down from £87.6 million to £84.2 million.

Chairman Alexander Forester forecast a bright future for the company due to stricter regulations on 'end of life' vehicles, and the company's ability to deal with hazardous waste - a big advantage with stricter legislation on waste disposal in the offing.

Although sales dropped in the year, the company's added value push, with valeting and driving cars through auctions, increased profitability.

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