000685 - Hire Station 25/9/08 16:35 Page 3
in the north east, and make it into a national business.” In addition,
it bought Arcotherm, which hires and sells heaters, air conditioners
and dehumidifiers, and this has been integrated within Climate Hire.
‘We are now looking for more non-ambient applications to ensure an Climate Hire is looking for more non ambient applications to ensure an
all year-round income stream.
all-year-round income stream for this activity.”
Having overseen a turnover increase of more than 50%, together
Hire Station’s most recent deal is the purchase of the tools and with a profit turnaround of £8m, in the last four years, John Singleton
telescopic handler fleet of UCS Plant, gaining a three year sole is justifiably proud of the team’s performance at Hire Station.
trading agreement in the process. “All these acquisitions are He also comments on the Hire Station’s excellent 07/08 results,
bedding in well and are being developed.” contending, “our operating margin is now the best in the tool hire
industry. In addition, 70% of our revenue growth in the last year has
“100 locations are more than plenty”
been organic.
In his general comments on our industry, John argues, “I don’t
believe that the model of 300 hire locations is the be-all and end-all. “We have also had a good start to our 08/09 year. First quarter
100 locations are more than plenty for national distribution. revenue has been strong and we remain optimistic. At the moment,
Locations are full of cost. Rather than move to larger branches, Hire Station is not experiencing the problems of the wider market.
we have invested heavily in adding mezzanine floors to our existing Tool hire is still performing well and our contract count continues to
branches. We prefer to have six or seven vehicles running out of one grow. Our capital expenditure continues without restrictions and will
location, rather than having two vehicles operating out of each of be similar to the £12m we invested last year.”
•
three locations. As the market tightens, our model will be best
placed to meet the challenges.”
www.hirestation.co.uk
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