CTR growing up
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• Central Trailer Rental plans to increase its rental fleet by more than 11% and to add four more depots to its European network.
Tiphook group member CTR has a fleet of around 4,500 trailers operating throughout Europe, of which 2,900 are based in the UK, but CTR chairman Freddie Fane says the company's total European fleet should number more than 5,000 by the end of the 1987/ 1988 financial year, with up to E15 million being spent on new trailers by the end of next April "if the market presents itself'.
Following its recent takeover of TBG — the trailer rental division of German semi-trailer builder Schmidt — CTR has added another 400 units to its fleet. As well as its six depots in the UK, CTR now has four in Germany, four in Denmark, and three in the Netherlands.
Fane reports that a new depot will soon open in Belgium and that CTR has "virtually concluded the arrangements for a new UK depot in Yorkshire".
Central also plans to extend its UK depot network with additional sites in the West Country and Kent, which Fane anticipates will be open by the middle of next year.
Central Trailer Rental is currently the fourth largest trailer rental company in the UK behind TIP, Rentco and Trallerent. Fane claims that CTR's fleet has the youngest profile of any rental company, with all new semi-trailers specified with air-suspension as standard. CTR will not, however, be following Trailerent's example by entering the truck rental market, says Fane. He estimates that over 15% of all trailers currently running in the UK are rental units and predicts that this could increase to more than 30% by 1990. The company estimates that the UK trailer rental market — for all types — is currently between 23,00025,000 units.
Fane reports that there is a growing interest among operators in trailer rental with "many finance directors more concerned for the need to show adequate returns on capital". CTR is "quietly confident" that the market is growing and Fane "sees no reason for its contracting".
Last year CTR raised its turnover from around 23 million to 25.6 million. The company will shortly be announcing its figures for 1986/ 1987 and they are expected to reveal growth in both turnover and profits.