Leasedrive Velo posts successful first business year
Leasedrive Velo, one of the UK's largest independent privately-owned vehicle management groups, has announced that the combined turnover of the group in the first year following the successful merger between Leasedrive and Velo in January 2007 was £56m. Earnings before interest, tax and amortisation (EBITA) was £4.6m.
Chief executive officer, Roger Partridge, said: "The excellent results achieved in the first year of trading, following the merger between the two companies, underlines this was the right move for both companies. It is also a reflection of the success of the integration, which went seamlessly to plan. Our group continues to dedicate itself to providing blue chip clients with the highest quality bespoke vehicle management service available.
"Our combined customers have benefited not only from the ultimate in customer service excellence delivered by our vehicle management division but also a more comprehensive range of services, improved efficiencies, reduced costs, 'net-net' pricing and increased investment in new products and services. Most importantly, we continue to invest in Drive:Manager, our industry-leading totally integrated online fleet management system which still sets the benchmark standard for operational and customer service quality in the industry.
"Our rental management division continues to go from strength to strength with our millionth rental recorded last autumn.
"Despite a tough economic backdrop, we remain on target with our current business plan which should see an even better financial performance recorded by year end."
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Leasedrive Velo is the largest independent privately-owned vehicle management group in the UK and comprises two main operating divisions.
Leasedrive Velo Vehicle Management
Working in partnership with fleet managers, or delivering a complete outsourced service, Leasedrive Velo offers blue chip clients a range of bespoke fleet management services. Major investments in the finest asset management system and pioneering, flexible, web-based customer service technology have resulted in Leasedrive Velo offering customers a truly world class fleet management service capability.
Leasedrive Velo Rental Management
One of the largest short-term vehicle rental management companies in the UK, with access to an almost unlimited choice of vehicles and locations throughout the country, Leasedrive Velo Rental Management offers a simple and transparent pricing policy with no hidden surcharges. For rentals of 28 days or more, it offers the Stopgap mid-term vehicle rental solution. Rates are substantially reduced compared to daily rental.
The headquarters for Leasedrive Velo is at hi-tech offices at TRL in Wokingham. Leasedrive Velo is the winner of the 2006 Fleet News Award for 'Best Contract Hire/Fleet Management Company' the 2006 GreenFleet Award for 'Leasing/Rental Company of the Year', The 2007 and 2008 Thames Valley Business Awards for 'Business Management Team of the Year' and the 2007 ITM Award for 'Independent Vehicle Management Company'.
For further press information on Leasedrive Velo, contact:
Mr Jeremy Snook
JSPR Ltd
Telephone: 01488 670002
Mobile: 07957 867139
Facsimile: 01488 670008
E-mail: jeremy.snook@jspr.co.uk
Website: www.jspr.co.uk