Ardent profit surge
This week’s Sunday Times 'BDO Profit Track 100' report on privately held British companies shows telehandler rental company Ardent Hire with the 16th fastest growth in annual operating profit, which increased 79.6 percent by the end of its fiscal year ending March 2020, after the company achieved revenues of £62.1 million with an operating profit of £4.7 million. Pre-tax profits were £2.75 million.
The other company in our sector which regularly makes the grade in this type of survey is mast climber and hoist rental company and contractor Brogan, which was 70th in the chart. The company achieved 43.4 percent growth, with revenues of £48.1 million for the year to the end of December 2019, and an operating profit of £14.4 million. Its pre-tax profits were £13.7 million, so a good deal more profitable than Ardent. It has however come from a much higher base and has featured in previous editions of the report.
This year’s report is almost entirely made up of pre-Covid performance and as always is based on compound percentage operating profit growth over a three year period, for private companies with profits of at least £3 million in the third year and £500,000 in the base year.
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