Hitachi Capital Vehicle Solutions reports rise in turnover, profit and fleet size for FY 2011
The Vehicle Solutions division of Hitachi Capital has reported a 6% increase in profit to £11.5m before tax for the 12 months ending 31 March 2011.
The firm says its fleet grow by 16% during this period to more than 50,000 vehicles, which increased turnover by 14% to £134m. This growth is partially driven by an acquired portfolio of 6,200 vehicles from Newtown Vehicle Rentals Limited.
James Worraker, head of finance, said: ‘The excellent financial results demonstrate our commitment to delivering profitable growth through our three centres of excellence: contract hire cars, commercial fleets and the driver instructor market.
‘Looking ahead, with our committed and experienced employees and provision of funding through the strength of our parent company, Hitachi Capital Vehicle Solutions is strongly placed to meet both new and existing customers’ requirements. We are committed to maintaining high service levels and delivering innovative solutions.’For more of the latest industry news, click here.