Glasgow-based Gap Hire says expanding into new areas has helped hike revenues

Equipment hire firm Gap Hire Solutions (GHS) has posted what it says is record annual turnover and the second highest pre-tax profits in the company’s history.

The Glasgow-based company reported turnover for the year to the end of March of £175m, up 11%, and pre-tax profit of £17.1m.

A programme of diversification and expansion in recent years has seen the group launch a series of new divisions including lifting hire equipment, non-mechanical plant, survey and safety hire, and welfare services.

GHS financial director Chris Parr said the firm’s family-ownership structure provided stability and long-term sustainability, “enabling us to make investments such as [a] £4m purchase of a five-acre site in Tilbury, Essex”.

The group employs more than 1,600 staff across 137 locations across the UK.