Rentco helps Tiphook double profits
14th December 1989, Page 15
14th December 1989
Page 15
Page 15, 14th December 1989
— Rentco helps Tiphook double profits
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Keywords :
Transport, Open Travel Alliance, Stena Line, Shipping, Tiphook, Containerization, Business / Finance
• Tiphook more than doubled its pre-tax profits from £4.5 million to 210 million in the first half of the year. The £70 million acquisition of Rentco boosted trailer rental business by 13%, and the group's container fleet increased by 23,000 to 187,000 units (due to reach 200,000 early next year).
Overall turnover rose by 65% to 274.8 million. Chairman Robert Montague predicts further growth in Eastern Europe, where Tiphook has established trailer rental businesses in Hungary, Poland and the Soviet Union.
0 Tiphook and Swedish shipping group Stena Line have increased their joint offer for Sea Containers to 2712 million.
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Robert Montague