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There is a healthier look about this year鈥檚 TCI Top 20 Plant Hirers league table. Collective turnover grew almost 14% to nearly 拢6bn, with profit-before-tax up 11.5% to over 拢900m. However, despite the generally positive trend, several big hitters 鈥� notably Aggreko and Speedy 鈥� had years they will want to forget. Top of the table, and by an increasing distance, is Ashtead. The firm鈥檚 revenue rose 24.7% to pass the 拢2bn mark for the first time, while profit grew at an even healthier rate of 32% to 拢473.8m.

Ashtead is such a familiar presence on the UK hire market that many readers may be surprised to discover that some 84% of Ashtead鈥檚 business is done by its US-based Sunbelt subsidiary, with only the remaining 16% accounted for by the UK arm, A-Plant. Ashtead looks set to cement its hold on the top position after spending over 拢1bn on its fleet and 拢236m on acquisitions 鈥� five in the UK 鈥� during 2014. 鈥淎-Plant continues to grow and is also taking market share,鈥� said chief executive Geoff Drabble. 鈥淲e believe we can increase our share of the UK rental market by 50%.鈥�

Global generator specialist Aggreko had a difficult 2014, with revenue up a fraction at just over 拢1.5bn but profit down 13.2% to 拢289m. UK operations account for 拢192.2m of turnover.鈥–hairman Ken Hanna described the year as 鈥渃hallenging鈥�, due to 鈥渟ignificant management change, the mining sector鈥檚 decline in Australia, and adverse currency movements, largely in the US dollar.鈥� Aggreko recruited a new CEO, Chris Weston, in January 2015 from Centrica.

Speedy Hire is another big name with problems. Revenue grew 7.2% to 拢375m but profit dropped to 拢2m, a margin of just 0.5%. The firm鈥檚 woes have been widely reported: it withdrew from the Middle East in 2014 following discovery of an accounting fraud which led to the resignation of chief executive Steve Corcoran. But Mark Rogerson, the man brought in to tidy up the mess, departed in July this year, after only 18 months in post, following a profit warning. A board review uncovered poor customer service during a 鈥渘etwork optimisation programme鈥�, with SMEs neglected while Speedy concentrated on big strategic accounts.

New executive chairman Jan Astrand said: 鈥淩emedial action programmes have not been delivered as needed. Our immediate priority is to accelerate the execution of those programmes and increase our focus on the SME core hire market.鈥� HSS floated on the London Stock Exchange in February, but started life as a plc by posting an 拢8.5m loss despite growing turnover by 25% to 拢284.6m. The situation worsened with a loss of 拢14.1m reported for the first half of 2015.

Mitigating circumstances are the costs associated with an aggressive expansion strategy, which has included the acquisitions of Apex Generators and portable variable messaging sign business MTS, and the opening of 50 new local branches. The stock exchange listing and fleet depreciation added 拢3m of exceptional charges. Chief executive Chris Davies, who has been succeeded by chief operating officer John Gill, warned that 鈥渢rading continues to be unpredictable鈥�.

Access specialist Lavendon, which trades in the UK as Nationwide, was third in the table for profitability, with a healthy 拢34.1m. Just over half its 20,000-strong fleet is UK-based. Laing O鈥橰ourke鈥檚 plant hire subsidiary, Select, posted steady growth in revenue, up 8.4% to 拢211.2m, and profit, which rose 17.9% to 拢13.2m. VP鈥檚 profit also rose - by one-third to 拢26.8m on turnover of 拢205.6m.

Gap enjoyed a 37.8% rise in profit to 拢18.6m on increased revenue of 拢143.3m. The small-plant and tool hire specialist launched three new divisions in 2014 鈥� providing safety, welfare and event services 鈥� and chairman Danny O鈥橬eil said it was 鈥渆xtremely satisfying that these emerging divisions contributed 16% of our profits鈥�. The firm has an ambitious five-year expansion plan, increasing its borrowing capacity to 拢220m, and acquiring more than 5,500 items of plant and equipment from Kier earlier this year.

Scaffolding specialist Deborah Services posted record revenue of 拢124m after a big turnover jump of 61.5%. Director Liam Spring said the firm was 鈥渃onfident鈥� about future growth, investing 拢8.1m in new equipment and acquiring utility outfit PDC. The highest turnover increase was reported by Charles Wilson Engineers, trading as CW Plant, where revenue more than doubled from 拢19.7m to 拢47m. Amey Fleet Services and Generation also enjoyed big revenue spikes, to 拢77.8m and 拢56.4m respectively. Besides HSS, the only other hirers to dip into the red this year were Hewden and Brand Energy & Infrastructure Services (BEIS).

Hewden, in its annual report, did not provide detail on its 拢16.6m loss but director Adrian Murphy said the firm 鈥渆xpects improvement... during 2015 due to operational efficiencies now being delivered and one-off issues in 2014 not recurring鈥�. BEIS, which bought Harsco Infrastructure鈥檚 trade, assets and some liabilities in 2013, posted a 拢2.6m loss in a 13-month trading period since the acquisition. However, revenue was up 29.4% to 拢80.1m and director Ian Farrell said the new business had 鈥減erformed strongly鈥� with 鈥渋mproved project cost control, greater efficiencies and a more effective organisational structure鈥�.

This article first appeared in the November 2015听issue of听海角社区app听magazine. To read the full magazine online,

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