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Volvo dealers boost profits
Page 16
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• Contract hire companies within Volvo dealer Lex Service boosted their profits by 75% in 1988, helping the company push its pre-tax profits up by more than 50% to .£70.4 million.
El Volvo distributor Crossroads Group, which was bought out by its management for .£4 million a year ago, has boosted turnover by 45% during the past year with profits of £32 million (up from £22 million in 1987).
Three new depots will be opened during 1989, in Leeds, Malton and Skipton, giving the company seven sites. The new depots will offer standard Crossroads' services, including contract hire and vehicle maintenance.
This £1.5 million investment programme will create an extra 40 jobs, taking the workforce to more than 200. There are also plans to expand the vehicle hire fleet.