Parent company Henry Boot, reporting strong growth in profits and revenue for 2013, said that its plant division had seen activity levels return to pre-recession levels.
Turnover for Banner Plant increased by 12% in 2013, through a combination of firmer hire rates and higher utilisation.
Plant capital expenditure equated to 12% of original cost, exceeding the compasny’s aim of 10% on a replacement basis.
More than 30% of capex was on access equipment, a line newly introduced to Banner’s Derby depot – one of six locations from which Banner operates.
The company said that capital expenditure was likely to continue at this level to grow the powered access fleet. Expenditure was also needed to replace older plant with the latest – more expensive – equipment complying with new emissions regulations.
“All indications suggest that construction activity in 2014 will continue in line with last year and therefore the improvements in utilisation and efficiency achieved in 2013 should be consolidated moving forward,” the company said.
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