Fleet News

Leasedrive Velo makes first appearance in The Sunday Times PwC Profit Track 100

The Leasedrive Velo Group has made its first appearance in the latest The Sunday Times PricewaterhouseCoopers Profit Track 100, now in its 12th year, which ranks Britain's 100 private companies with the fastest-growing profits over the last three years of available audited accounts. The privately-owned vehicle management group was ranked 40th.

Commercial director, Roddy Graham said: "Our debut appearance in The Sunday Times PwC Profit Track 100 recognises the tremendous profitable growth of our company in a tough economic climate and highly competitive business sector.

"We have always striven to deliver the highest quality bespoke vehicle management service and demonstrably provide savings and efficiencies to our clients through investment in people, world-class fleet management systems and totally-integrated innovative solutions. Our profitable growth is indicative of our success in achieving these aims."

"We have just completed the successful integration of Masterlease UK and will continue driving our dynamic company forward through sustainable organic growth and strategic acquisition."

Annual profit growth for the Leasedrive Velo Group over the three years was 65 per cent. Earlier in the month, the Group won the 'Management Team of the Year'
Award in the 2011 Thames Valley and Solent Deal Awards. It is a past triple winner of the Business Magazine Management Team of the Year Award.

The Sunday Times PricewaterhouseCoopers Profit Track 100 citation read: "Created through the merger of Leasedrive and Velo in 2007, this vehicle management firm leases a fleet of 42,000 cars and vans to blue-chip companies across Britain, and counts T-Mobile, Marks & Spencer and British Airways among its customers.

It also advises clients on such issues as cars' green credentials, health-and- safety scores, fuel efficiency and taxation. In December the company acquired a big competitor, Masterlease, in a deal with Investec, which, it says, will quadruple its size. Led by managing director David Bird, profits grew 65% a year, from £700,000 in 2006 to £3.1m in 2009."

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