Buoyant used company car and van values have contributed to record operating profits at fast-growing contract hire and leasing company Ogilvie Fleet.
Ogilvie Fleet, which saw its fleet size increase to almost 11,000 vehicles this year - almost 700 units up on 12 months ago - is among Britain’s 20 largest contract hire and leasing companies and was the strongest performer among Ogilvie Group’s divisions.
For the year ending June 30, 2013, Ogilvie Fleet saw turnover accelerate to £105.4 million (2012: £104.8 million) and operating profit rise almost 50% to £3.725 million (2012: £2.5 million).
Meanwhile, parent company, the Stirling-headquartered Ogilvie Group, achieved another steady performance, with an 11% increase in profit and 6% growth in turnover.
For the year under review turnover rose to £179 million from £160 million in 2012 with pre-tax profit rising to £3 million from £2.7 million.
Ogilvie Fleet’s strong performance and significant growth in operating profit was, in addition to a well-managed disposal policy that capitalised on a buoyant used car and van market, also reflective of further investment in technology to help customers improve fleet operating efficiency and effectiveness.
Ogilvie Fleet sales and marketing director Nick Hardy said: “Fleet is going from strength to strength. While we have benefited from used vehicle market conditions, we have continued to win new businesses and retain existing clients due to a combination of our industry leading products, unique online tools and best-in-class customer service.
“In a tough marketplace where customers are continually seeking increased value for money, Ogilvie Fleet has shown through its product range and leading-edge management solutions that it can deliver.”
This year Ogilvie Fleet’s winning formula has been rewarded with further industry awards for the company, notably its Disposals Team winning the 2013 FN50 Customer Service Team Award presented by industry publication Fleet News and the business becoming the first vehicle leasing and fleet management company to win a top industry customer service award, the Fleeteye CSI (customer satisfaction index) Award, three times in succession.
Ogilvie Fleet has offices in Belfast, Birmingham, Sheffield and Stirling and Hardy added: “We continue to strive to offer our customers management solutions at the forefront of the vehicle leasing and fleet management industry and securing independent corroboration that we are doing just that is our continuing awards success.
“We are anticipating further fleet growth in 2014 as businesses look to Ogilvie Fleet to deliver efficiencies that will improve their vehicle operating effectiveness and management reporting and result in financial savings.”
Ogilvie Group is a family owned business that also includes construction, communications, house building and surveying among its portfolio of business activities.
Ogilvie Group chief executive Duncan Ogilvie said: “Once again, we have maintained a solid performance across the Group, despite some challenging market conditions.
“Continuous investment in a team of highly skilled professionals ensures that we deliver high standards of customer service across all of our operations, recognised by industry awards in many sectors.”
Ogilvie Group is one of Scotland’s most consistently successful family owned businesses. The company is over 60 years old and employs more than 400 people across its various business operations.