TOOL HIRE TOP TEN 2014 continued
COMMENT
Director Adrian Watts reports that Hirebase remains busy, focused on further expansion into the branch network of its parent, Buildbase. The past year has seen a near 20% uplift in revenues to £40.0m, reflecting the expanding of the branch network from 83 depots to 99 - the highest rate of growth in branch openings (19%) among the Top Ten. This rate of expansion looks set to accelerate with Buildbase set to open its 100th branch this month and a further 15 subsequently in the first quarter of 2014.
in May; without its contribution, A-Plant’s revenues rose by a very satisfactory 16%, which the company says reflects a 10% increase in the fleet on hire and a 5% improvement in yield.
Investors reacted favourably to the statement and its shares reached a new 52 week high of 780p on 20 December, a rise of more than 80% over the year.
Last July, A-Plant moved into trenchless technology with the acquisition of PSS. More recently, the A-Plant Acrow division has been re-branded as Leada Acrow, the original name of the business.
On the tool hire side, the past year has seen the introduction of Tool Hire Express, which opened its first store in Manchester City Centre in May. Since then stores have been opened in Liverpool, Mansfield, Sheffield and Plymouth.
HIREBASE Hire Director
Head Office
Telephone number Website
Hire activities Geographical coverage Status
GAP GROUP LTD Joint Managing Directors
Head Office
Telephone Number Website
Hire activities
Geographical coverage Status
Douglas and Iain Anderson
40 Carrick Street, Glasgow, G2 8DA 0141 225 4600
www.gap-group.co.uk
Non-operated plant and tools National
Private company owned by the Anderson family
Adrian Watts
Gemini One, 5520 Oxford Business Park South, Cowley, Oxford, OX4 2LL 018650871700
www.hirebase.co.uk Tools and small plant
From Sheffield to Crawley and Norwich to Exeter
A division of Grafton GB, a subsidiary of Grafton Group plc (Irish registered public company, listed on London Stock Exchange)
COMMENT
GAP has a strong presence in both the general plant and tool hire markets. Tool hire accounted for just over one third of GAP revenues and just under one third of its fleet in Gross Book Value terms in the year ended 31 March 2013.
The company has grown impressively over the past two to three years and achieved record Group revenues of nearly £100m in 2012/2013. Further strong progress has also been made in the first three quarters of this year and Douglas Anderson is confidently forecasting that Group revenues will reach £110m for the year ended 31 March. The Glasgow-based company now has a comprehensive network of combined plant and tools depots across the UK (and the
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