Having put up its prices last year, Nationwide Platforms saw its rental revenues fall 1% to 拢110.2m (2014: 拢111.1m) but its profits improved.
Parent company Lavendon Group, which hires platforms across Europe and the Middle East, saw its annual revenue grow just 1% overall to 拢248.6m (2014: 拢246.3m). Worldwide rental revenue was 拢233.5m (2014: 拢231.9m).
Pre-tax profit was up 13% to 拢38.5m (2014: 拢34.1m), a record result for the company.
Overall UK revenue was little changed at 拢121.1m (2014: 拢120.1m). Underlying operating profit was 拢22.7m (2014: 20.4m), a margin improvement from 17% to 18.7%.
At the end of the year, Nationwide brought its platform delivery/collection service back in house. 鈥淲e concluded that our outsourced transportation function was not delivering the expected customer service improvements at the expected cost and was restricting progress in our drive for greater operational efficiency,鈥� chairman John Standen said. 鈥淐onsequently we have decided to bring this function back under our direct control.鈥�
There may be short-term repercussions, he warned. 鈥淭his may cause some disruption and increase costs to the business in the short term, as we transition in-house,鈥� he said. 鈥淗owever, we are confident that both our efficiency and customer satisfaction levels will improve over the year.鈥�
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