08.02.2005

Brandon Hire up 23 percent

Brandon Hire, the Tool and General rental company saw sales revenues increase by 23 percent in 2004 to over £48 million.

Roughly half of the growth was organic and half from acquisitions. The group added 32 new branches in 2004 taking the company’s total to 130. Operating profit after exceptionals, grew by 28 percent..

Brandon rent out both tools and compact plant including a fleet of aerial lifts. The Brandon Loadtite division, rents a wide range of lifting gear including tackle.

"This has been another record year for Brandon Hire with strong organic growth and a big increase in profits. We have also made good strategic progress increasing our network by 32 branches and can now offer our customers coverage across almost all of mainland Britain. We continue to see a healthy level of economic activity amongst our customers. Unless the UK economy falters significantly we are confident that our successful growth will continue." Said Charles Skinner, Brandon Chief Executive

OUTLOOK

John Laycock Brandon Chairman added:
“Turnover in 2005 will show further significant growth due to the full year impact of the expansion activities undertaken in 2004 and as new opportunities for growth are taken. As the recent acquisitions and new branches mature, operating margins can be expected to continue to improve. I am pleased to note that the level of general activity among our customers remains steady. These factors suggest that your company is well capable of profitable growth over the coming year”.