Fleet News

Kwik-Fit sees turnover grow

INCREASED fleet business and a surge in the fitting of low profile tyres has helped Kwik-Fit Fleet achieve a £2.8 million increase in turnover for the first half of this year.

Additional business with fleets and contract hire companies and an increase in the number of fleets using the group's Business Drive Card also helped improve turnover.

The results come just six months after CVC Capital Partners acquired the Kwik-Fit Group from Ford. Sales for Kwik-Fit Fleet increased 5.4% to £54.6 million from £51.8 million for the same period last year.

Following the acquisition, Kwik-Fit Fleet completed a review of its business and Mike Wise, the firm's operations director, said: 'Upheaval surrounding ownership changes can lead to a loss of business focus. Our service delivery to both our major corporate customers and the national fleet sector has never faltered.'

As part of the review, Kwik-Fit Fleet closed 140 of its Tyre Plus centres and integrated the remaining 115 centres into its core network last month.

The group also announced in May that Silver Shield, its window replacement division, had ceased trading and was up for sale after being placed in administration.

Wise added 'With strong growth forecast for July to December and more new contracts imminent we are looking to build on our tremendous performance in the first half of the year and make 2003 a record year for Kwik-Fit Fleet.'

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