PLANT and tool hirer Vibroplant has posted first-half operating profits of £1.37 million in the period to September 30, following a loss of £735,000 in the previous six months.
Chairman Jeremy Pilkington said: 'The return to profitability represents the first tangible financial benefit from the repositioning strategy we have pushed over the last two years.' Vibroplant has rationalised its plant depots and installed three national call centres to handle sales and services. Turnover rose by 34 per cent to £23.9 million, thanks partly to the first results from its recent acquisitions and 'strong organic growth', said Mr Pilkington.
In general plant hire, Mr Pilkington said that the division had made a greater contribution helped by improvements in both capacity utilisation and pricing.
Mr Pilkington said the introduction of the landfill tax had prompted contractors to look carefully at the opportunities for recycling waste demolition materials rather than dumping at special sites. Vibroplant has invested in a new range of screening, crushing and recycling equipment to meet increasing demand.
Also Vibroplant has expanded its Canon and Instant tool hire businesses in the last year with further acquisitions of tool hire businesses.
The acquisition of Domindo Tool Hire in October, with branches in Shropshire and North Wales, represented ' a further step in the development of a national tool hire capability'.