16.02.2006

Hewden intent on growth

As reported yesterday, Hewden Stuart Plc, the UK’s largest equipment rental company saw revenues rise by 3.2 percent to £297.1 million. While Earnings Before Interest and Tax grew by 2.1 percent to £25.1 million.

The numbers mask a year of major changes at the company, that have transformed it ready for significant growth in 2006. In an announcement today, Brian Sherlock, managing director confirmed the company’s intention to further consolidate its market leadership in the face of aggressive competition.
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Brian Sherlock

“We have no intention of standing still we will continue to move closer to our customer. A major restructuring of the company to make it more customer focused and improve services is now complete, giving us the edge of being the only company able to offer a complete range of Plant, Tools, Access, Accommodation, Cranes, Hoists, Sites Services and Power Generation equipment from a single point of contact”. Said Sherlock.

“Revenues from customers who took advantage of the complete Hewden offering grew by 21 percent in 2005. We intend to extend Hewden’s market lead through significant investment in improved customer services. In the third quarter, we announced a £13.8 million investment in new IT systems designed to improve the quality of customer information and services and reduce transaction costs”.

“This set a new record for the industry in IT investment where the previous ‘high’ had been a £6million planned investment by Speedy Hire, reported in November 2005”.

“We expect to win more exclusive contracts in the face of the major changes in the last financial year that will enable those who use us to reduce their own costs and risks. In spite of increased consolidation and management buyouts within the sector, no other company matches Hewden in terms of the quality and range of equipment, this is a leadership position that we intend to grow.”