CSL makes record profit
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• CSL Corporation, which claims to be the fifth largest trailer rental company in the UK, had a good 1987, with pre-tax profits up 58% to a record £1.54 million. Truck and trailer division profits — the vast majority of its business — rose 64% to £1.31 million.
CSL has bought £7 million worth of new equipment, including 500 trailers and 50 tractor units, boosting its trail er fleet to over 1,700. It hopes to increase this to over 2,000 by the end of the year through organic growth, and several outside acquisitions are also planned, says chief executive Liam Condon.
The company, now on the Unlisted Securities Market and with outlets in Knottingly, Glasgow, Bradford, Trafford Park, Leicester and Brentford, is keeping its low-key image with non-liveried trailers.
Not all hirers want to draw attention to the fact that their fleet may be rented, and a dirty vehicle which has been on the road for three months reflects badly on a high-profile liveried image, says Condon.
Turnover in 1987 was up 76% at £7.17 million, and earnings per share increased by 44% to 6.6p. More UK depots are planned for the company.