Fast growing Ogilvie Fleet has made a major contribution to its parent company debuting in this year’s Sunday Times Grant Thornton Top Track 250 chart.
Stirling-headquartered Ogilvie Group debuted at number 157 in the listing, which ranks Britain’s leading private mid-market growth companies by sales.
The annual listing, now in its 10th year, is produced by Fast Track, the Oxford-based firm that researches Britain’s top-performing private companies.
Ogilvie Fleet now operates a company car and van fleet approaching 11,500 vehicles and its growth has been 100% organic.
In 2002 Ogilvie Fleet operated a fleet of less than 3,000 vehicles and since then it has recorded consistent year-on-year growth to the extent that it now contributes around 60% to its parent company’s turnover, according to the Sunday Times Grant Thornton Top Track 250 report.
In the 12 months to June 30, 2013, the most recent year for which audited accounts are available with official 2013/14 results to be published shortly, 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).
During the same period, Ogilvie Group turnover rose to £179 million from £160 million in 2012 with pre-tax profit rising to £3 million from £2.7 million.
The new table suggests further financial improvements in 2013/14 based on draft accounts with a double digit increase in turnover and a significant rise in profits.
Ogilvie Fleet sales and marketing director Nick Hardy said: “Ogilvie Fleet is going from strength to strength based on a combination of innovative management solutions, particularly online, and industry-leading customer service.”
Hardy continued: “Ogilvie Fleet has seen an increase in its fleet size year-on-year even through the recession years. We are seeing further expansion this year and are forecasting 10% organic growth in 2014/15 which will result in having almost 12,000 vehicles on the fleet.”
David Maxwell, national leadership board member and partner at Grant Thornton UK LLP, the title sponsor of the league table, praised all the companies for their performance saying: “These mid-sized businesses are such an integral part of the UK economy. They continue to thrive and grow, often on an international stage and their achievements are rightly celebrated here in the Top Track 250.”