23.05.2005
Finning profits up 56 percent
Finning International, Canadian based owner if Finning UK and Hewden Stuart, Europe’s largest rental company, has reported record first quarter revenues of C$1,153 million,(£500 million) an increase of 19 percent over the first quarter of 2004.
Net income for the quarter, rose by over 56 percent to C$37.4 million, (16,2 million) compared with 2004
Finning UK revenues rose in sterling terms by over 20 percent
Hewden revenues moved ahead by 2.6 percent in sterling (1.9% in C$) to C$162 (£70.3) million. Profitability at the UK’s largest hire company remained roughly static, with improved utilisation offset by increased supplier costs.
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