The Specialist Hire Group Ltd (SHG) has reported a record year after a strong performance by its forklift division, Rushlift Ltd.
In the year to 31 August 2012, SHG posted record levels of turnover and earnings. Group sales rose by 23% to GBP28.8 million (USD44.5 million), while pre-tax profits soared by 124% to GBP1.8 million (USD2.8 million).
SHG says Rushlift has grown into the largest independent materials handling supplier in the UK, with key accounts including British Airways, Tata Steel and Saint-Gobain.
Rushlift managing director Graham Farquhar cites the hard work of employees, as well as continued investment in new technology and infrastructure, as key factors in the company's growth.
He adds that the company has invested heavily in its IT infrastructure and notes the successful roll-out of hand-held technology to its engineers, feeding real-time information into its fleet management system, which can be viewed by customers.
In addition to new contract signings, high contract renewal levels have also significantly enhanced group earnings, while SHG heavy forklift subsidiary Sleabond, which is the UK's national distributor for Svetruck, also reported an 8.3% increase in pre-tax earnings.
"Our existing contracts have been supplemented by significant new deals and more businesses are finding out about our customer-centred approach, focusing on what the customer does and how they do it, rather than supplying a particular brand of machine," Farquhar says.
Despite difficult market conditions in the construction sector, the group's mobile crane division also traded robustly, with a 90% increase in pre-tax earnings.
"We believe that our independent approach aligns us closely with our customers' requirement," Farquhar explains. "In times of uncertainty, that approach has really helped us to continue our growth trajectory."
The group hires and maintains industrial equipment nationwide through its subsidiary companies Rushlift and Sleabond, and hires mobile cranes from 8 - 200 T through Specialist Crane Hire. The business was established in 2002 and employs over 240 people in eight locations in the UK.