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GAP spending hits £58m

 

 

By Mike Travers

 

More than 900 excavators and 400 dumpers have been bought by GAP Group as spending in the first eight months of its trading year reaches £58m. And that doesn’t include investment in the commercial vehicle fleet or depot network.

Capital expenditure on plant and tools represents an increase of £12.1m on the same period last year and the group is poised to hit turnover of £200m this financial year.

Ken Stewart (right), the group’s head of procurement, said: “All our divisions are showing a healthy increase in capital expenditure as we continue to benefit from increased utilisation levels.

“Continuity of supply has been maintained throughout the year with no delivery issues being experienced. By investing heavily we are able to continually improve our age profile and our customers can take delivery of equipment which is generally to a high specification and conforms to the latest legislation.”

He added: “We’re fortunate in having a relatively flat management structure. Provided we meet key financial and operational criteria, the board of directors has been extremely supportive when authorising capital expenditure.”

As the business moves into the final third of its trading year, Stewart said planning was already underway for the 2019/2020 spending programme.

 

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Article posted 14/12/2018