Fleet News

RAC profits enter the fast lane

RAC plc has announced half-year pre-tax profits 4% higher than for the same period last year.

The company said it has seen strong performances across its business and achieved a pre-tax profit before goodwill and exceptionals of £44.9m in the six months to June 30.

RAC chief executive Andy Harrison said: ‘We are combining service excellence, evidenced by the JD Power award for number one roadside assistance provider, with another good financial performance.

‘RAC plc continues to grow in strength and focus. We will continue to leverage the power of our brands and unique capabilities in motoring in the consumer and business markets to create sustained growth opportunities.’

Revenues in the group’s consumer services business, which includes roadside assistance, financial services, legal services, driver tuition and training and vehicle glass replacement, were up 7% to £185.1 million, from £173.6 million in 2003, and profits up to £26.6 million, from £25.7 million.

On its RAC Auto Windscreens division, the group said: ‘It is number two in its market and operates in a highly competitive environment. In the first half of 2004 we have delivered a more robust performance, albeit on a reduced margin, and stabilised our revenue.’

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