Car hire Business prepares for £5bn floatation

One of the world’s largest car hire companies, FleetPlan, is this week preparing for a stock market float. Reporting another year of record sales and profits, the business has reached new heights. With profits jumping a substantial 13% to €677m, the business marks its 50th birthday with a great time of expansion. Owning over 1.3m cars, the company is seeing a huge rise in interest, with the 21st Century ‘sharing economy’ arguably responsible.#

Reporting a “clear megatrend” in “ubership”, more and more people are moving away from buying cars outright. Working closely with the likes of Uber, the business has seen such contracts have a positive impact on sales. Sales increased by a whopping €9.4bn; but why?

Well, not simply offering car hire, FleetPlan provides a full circle solution. This includes financing, insurance, as well as repair and maintenance.

Chief Executive, Tex Gunning, is a keen advocate of the hire model, believing their recent surge in popularity is largely down to people being more educated on their transport options.

“Customers are realising you can buy a car that is three or four years old and still get another 100,000 miles out of it,” Mr Gunning said.

Promising a zero-emissions fleet by 2030; the company should only increase in value.

Though profits are well and truly up, the company did experience a €65m hit for one-off charges. These charges included the fees for preparing for a possible listing.

If you are on the search for car hire solutions in your area, then be sure to make use of the Anything for Hire website. Offering the UK’s first comparison tool; you could be seconds away from saving money on car hire.