Top 75 of the largest hirers across the broad spectrum of the industry from mobile cranes, earthmoving plant, through powered access to non-operated plant and tools. The core of the Report is a series of statistical tables based on the latest annual accounts of the 75 companies.
Some of our findings are:
1. The average fleet size (based on Gross Book Value of Plant) is £93.2m, which marks a small (under 1%) rise on last year’s figure, which itself represented a 3.4% decline on the previous year’s average. 2. Although there has been this very modest growth in the average fleet size, 59% of the Top 75 companies have seen their fleets decline in size. 3. The average hire revenue for the Top 75 companies has improved by 7% to £58.6m. It is, however, disappointing to record that the median for the 75 companies was £11.8m, which is 11% lower than last year’s figure and suggests that much of the growth has been achieved by the larger companies. 4. One statistic critical to the performance of hire companies is revenue as a percentage of Gross Book Value of Plant. This year the median figure is 46.3%, a disappointing decline from last year’s 52.6%. Tool hire companies continue to perform well on this table with HSS and Brandon, first and third respectively, and Speedy 12th; Vp (parent company of Hire Station) is in 8th position. 5. The average trading profit of the Top 75 companies rose 2.2% to £17.7m. At the pre-tax level, 20 of the companies recorded losses, compared with 17 last year. 6. Nevertheless, the changes in trading profit table suggest that profitability is slowly improving. 35% of companies recorded an increase in trading profit, compared with 25% last year; the median change in trading profit figure was minus 6.8%, but this is a significant improvement on last year’s minus 15.7%.
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Of course, any statistics based on company accounts must be ‘historic’ by their very nature, but they also highlight trends within individual companies and the industry as a whole. Those companies that are performing strongly on what might be termed the ‘critical’ tables in the Report, are doing so in difficult circumstances and they are likely to continue to out-perform their competitors as the economic conditions remain tough.
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www.phir.co.uk.
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