Capital expenditure on plant, tools and equipment for the first eight months of GAP Group’s trading year has surged to £58m, representing an increase of £12.1m (circa 26%) when compared to the corresponding period last year.
GAP Group is the UK’s largest independent equipment hirer. In the last decade GAP has implemented an expansion and growth strategy geared towards diversification to drive the business forward nationally. The addition of new divisions and product lines has required the subsequent growth of its depot network, which has more than doubled in the last seven years. GAP now has 142 depots nationwide.
The group which will celebrate its golden anniversary in 2019 is on target to break through the £200m turnover barrier this financial year.
Ken concluded: “We`re fortunate to have a relatively flat management structure. Provided we meet key financial and operational criteria, our Board of Directors have been extremely supportive when authorising capital expenditure.
“Not only are we looking forward to the remaining four months of our trading year but already we`re planning ahead for 2019/2020”.