GAP Holdings turned over 拢186.6m in the year to 31st March 2018 (2017: 拢175.0m).
GAP鈥檚 earnings before interest, tax, depreciation and amortisation (EBITDA) increased to 拢73.5m from 拢69.8m in the previous 12 months.
However, although turnover was up by 拢11.5m, the cost of sales increased by nearly 拢10m and administrative overheads by more than 拢2.5m. As a result, the resulting profit before tax for the year ended up slightly down at 拢16.7m (2017: 拢17.1m).
The family-owned and operated business which is run by brothers Douglas and Iain Anderson, invested 拢60m in hire assets during the year and 拢10.5m on property to strengthen the hire network of 140 locations.
It also invested in internal systems to improve operations and customer service.
Joint managing director Iain Anderson said: 鈥淲e work closely with our people, customers and suppliers to help champion innovative solutions that deliver competitive advantage through reduced costs and improved efficiency.
鈥淭he introduction of web-based customer support software at our head office has enabled the GAP one hiredesk (GAP鈥檚 managed services department) to streamline business processes. The process of responding to hire requests is now completely paperless, which is further evidence of GAP鈥檚 green action plan in action.鈥�
The company celebrates its 50th anniversary in 2019 and is budgeting for turnover to top 拢200m. 鈥淭hat would be a real milestone for us and would prove a perfect 50th birthday present,鈥� Iain Anderson said.
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