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Finance

A-Plant’s profits fall 11%

A-Plant’s profits fall 11%

Business, Finance
Hire company A-Plant has suffered a dip in profits in the past year on marginal growth in revenues. For the year ended 30th April 2019, A-Plant made an operating profit of £62.3m, down 11% on the previous year’s £70.2m. Revenue was up 0.7% to £475.1m (2018: £471.7m). Its operating margin therefore declined from 14.9% to 13.1%. This was attributed to “the higher depreciation charge of a larger average fleet”. A-Plant generated rental-only revenue of £357m, up 4% on the prior year (2018: £344m).  This was driven by increased fleet on rent with a 1% improvement in yield, mainly due to product mix. A-Plant’s parent company, Ashtead – although British – does most of its business in North America, through the much larger and more profitable Sunbelt equipment rental operations. ...
Further Growth for the Kion Group

Further Growth for the Kion Group

Business, Finance
The KION Group continues to benefit from a healthy global market for industrial trucks and supply chain solutions, registering a notable increase in orders over the first nine months of 2018. At EUR6.369 billion (USD7.25 billion), the total value of order intake in the first three quarters of the year was up by 11.8% on the same period last year. The rise would have been higher - 15% - had it not been for negative currency effects. KION’s order book as of September 30 was up 23.6% from the end of 2017. The company reports that the global market for industrial trucks registered strong growth of 13.6% in the first three quarters of 2018, with all regions making a contribution. Sales of electric forklifts were up by 11%, while ICE truck sales rose 10.3%. Warehouse trucks registered e...
Getting ready for Brexit

Getting ready for Brexit

BREXIT, Finance
Investec’s Andrew Woodward believes that while UK businesses need to be mindful of the bigger picture and take steps to protect themselves from risks such as FX and importing tariffs, leaders must continue to focus on the specifics of their particular businesses. “The materials handling industry is a good bellwether for the economy and in particular the confidence at any given time due to the fact it covers so many sectors from manufacturing, warehousing, distribution, wholesaling, retailing amongst many others,” he says. He continues: “Our job at Investec Materials Handling is to ensure there is a viable funding option to facilitate the rental and hire of materials handling equipment throughout these ups and downs. We will consistently work to offer finance facilities that reflect t...
Strong Growth for Haulotte

Strong Growth for Haulotte

Finance, Manufacturer
In a "very dynamic global market", Haulotte Group posted sales up 13% to EUR289.9 million (USD 337.5 million) in the first half of 2018. The European market continued the trend of the previous semesters and posted a 14% increase in sales, driven by strong demand from major rental companies in most European regions. Sales in the Asia Pacific grew 12% over the period, thanks to the dynamism of China. In Latin America, the recovery observed in 2017 was confirmed in all markets, with the exception of Argentina, allowing the group to post an increase in sales of 17%. In North America, sales continued to grow, up 10%, driven by a 23% jump in the aerial work platforms business. Group-wide equipment sales increased by 15% over the half year, while services revenue grew by 6% and rental ac...
Turnover Tops £200m for Briggs

Turnover Tops £200m for Briggs

Business, Dealer, Finance, News, UK Today
Turnover has topped £200m and profits have grown at materials handling equipment supplier Briggs Equipment. The company, which is the exclusive UK distributor of Hyster and Yale forklift trucks, generated revealed of £204m in the year to 31 December 2017, new accounts have revealed, up from £179.1m 12 months prior. Briggs said the hike was "significantly underpinned" by major contract wins in the ports and terminals market, as well as an overall increase in market share. It was also bolstered by the strength of its engineering service business. Pre-tax profit for the period climbed to £3.3m from £2.4m in 2016, while overall income more than doubled to £2.4m from £1.1m. During the financial year, Briggs Equipment launched a five-year strategic plan, targeting growth and diver...
Forklift prices look set to rise in the United States.

Forklift prices look set to rise in the United States.

Business, Finance, Industry
Speculation is mounting after Crown Equipment Corporation announced it "will implement a price increase effective September 4, 2018". There’s no indication yet of the size of that increase, nor whether it will be uniform across the range. Pending price increases are not unexpected, especially in the wake of last month’s introduction of new tariffs on a range of imports from China, including forklifts and forklift parts. These imposts augment recently imposed tariffs on steel and aluminium imports – raw materials heavily used in forklift manufacture. The major importers of Chinese forklifts are being forced to increase prices, many not able to absorb the full 25% tariff. And while many importers had stocked up ahead of the tariff implementation, inventories are believed to be running ...
No Brexit Exit for Hoppecke

No Brexit Exit for Hoppecke

Batteries, BREXIT, Finance, Service
Despite concerns about prospects for economic growth and the uncertain commercial landscape post-Brexit, for energy management specialist Hoppecke Industrial Batteries it’s business as usual. Whilst the likes of Airbus, Unilever and BMW have been voicing fears over the impact on their businesses of a ‘no deal’, Hoppecke has signalled its commitment to doing business in the UK by signing a 15-year lease on its assembly and warehouse facility in Staffordshire. This move comes amid a period of stability that has seen Hoppecke’s UK subsidiary outperform the market across all areas of its business, with total revenue up by more than 36% over the past two years. It also provides clear reassurance both to Hoppecke’s customers and its workforce that the company intends to continue with the u...
New Head of Sales at BNP Parabas

New Head of Sales at BNP Parabas

Business, Featured, Finance, Latest
BNP Paribas Leasing Solutions UK has appointed Mark Richards as Head of Equipment and Logistics Solutions (ELS) Sales – Key Accounts and Business Development. The ELS division of BNP Paribas Leasing Solutions specialises in asset finance for the agriculture, materials handling, construction and commercial vehicles markets. Its specialist finance solutions are enablers for businesses across the supply chain. With over 20 years’ experience in the asset finance sector, Richards joins BNP Paribas Leasing Solutions from Marubeni-Komatsu Finance where he established the business from a start-up and held the position of Head of Sales. Prior to this, Richards was Head of Vendor Sales for Hitachi Capital Business Finance where he led the agricultural and industrial vendor sales team and suppo...
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