Hitachi Capital Vehicle Solutions saw a 6%
growth in profit for the last financial year fuelled by an increase
in fleet size.
The vehicle leasing division of Hitachi
Capital recorded pre-tax profit of £11.5m for the year ending 31
March 2011.
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The Berkshire-based Vehicle Solutions
increased its fleet by 16% to more than 50,000 partly as result of
the acquisition of 6,200 vehicle portfolio from Newton Vehicle
Rentals in December 2010.
Turnover for the year was £134m, an increase
of 14%.
James Worraker, head of finance at
Hitachi Capital Vehicle Solutions 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.”
Simon Oliphant, chief executive of Hitachi
Capital Vehicle Solutions said the growth reflected the success of
the company’s business strategy and commitment to customer
service.
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By GlobalDatagrant.collinson@vrlfinancialnews.com
