CTR trebles profits
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• Trailer and container rental specialist Tiphook plans a 236 million rights issue. This is its second issue in less than a year and will help the company maintain its growth in the UK and on the Continent.
In the year to 30 April, Tiphook recorded a 63% rise in pre-tax profits to 24.5 million and a 55.7% increase in turnover to 239.4 million.
The company plans to invest a total of 2200 million over the next two years, starting this year with 243 million on new trailers and the same sum on new containers.
During the year Tiphook subsidiary Central Trailer Rental almost trebled its profits from 2566,000 to 21.58 million. The number of trailers on the company's books increased from 2,900 to 4,500 during the year, and the company claims utilisation levels have increased