Lex Transfleet hit by over-supply in rental
20th March 1997, Page 9
20th March 1997
Page 9
Page 9, 20th March 1997
— Lex Transfleet hit by over-supply in rental
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IN Over-supply in the truck rental market led to plummeting profits for contract-hire and rental firm Lex Transfleet last year.
Combined profits for Lex Transfleet and French contracthire firm Seltra, part of Lex Service, fell from 1:5.1m in 1995 to ,(1.6m in 1996.
Lex's figures are even worse because Seltra made a "record profit" last year, according to Lex's annual report. It won't reveal the size of that profit.
Lex Transfleet's rental fleet has been cut from 1,800 to 1,700 vehicles to reflect falling demand.
Lex's 20 truck and van dealerships also had a difficult year, because of the weak truck market. "The truck market is still difficult but a lot of the action taken in 1996 will put us on a much better footing in 1997," says Lex Service,