Mills Rental pick up

The Rental division of Brazilian group Mills has reported is best quarter since the second quarter of 2016, with revenues up 4.1 percent to R53.5 million ($13.5 million). Equipment rental made up 48.2 million ($12.2 million) of this - a rise of 13.9 percent, in spite of utilisation falling from 53 to 46.4 percent. The remaining revenues are made up of mostly new equipment sales and services. Last year’s operating loss of R2.9 million ($734,000) was converted to a profit of R2.8 million ($709,000) this year. Capital expenditure remained at virtually zero.

The group as a whole saw revenue fall 14 percent to R71 million ($18 million) while last year’s pre-tax loss of R29.6 ($7.5 million)was reduced from to a loss this quarter of R13.8 million ($3.5 million)