Motiva Group has revealed plans to double the size of the business within three years on the back of record results.
Growth hit unprecedented levels for the provider of car, van and truck management, and finance solutions in 2014 with a leap in fleet size increasing operating profit by more than 50%.
And managing director Peter Davenport has already launched a campaign to capitalise on that progress.
He is aiming to more than double fleet size again by 2017 and insists a target of 12,000 vehicles – which would represent an increase of more than 107% in three years – is now well within reach.
This is not the first time in recent years Motiva has announced plans to double in size. In 2013, Davenport aimed to grow to 7,000 vehicles within four years to take a place in the top half of the FN50 (read article here). It is currently in 29th position.
Davenport, who led a management buy-out of Motiva Group in 2006, said: “2014 was a tremendous year for the company with record performance leading to figures well beyond even our most optimistic targets.
“But we don’t want to stop here and have put plans in place for even more spectacular growth in the next 12 months and beyond.
“We have a long-term vision for expansion and doubling the size of the business in three years is a key part of that.”
Operating profit for 2014 was £1.6 million with turnover at £42m and fleet size reaching more than 5,700 (both increasing by 22%).
Davenport puts that success down to three major initiatives along with the addition of several new products.
He added: “We set out this year to press home the advantage of our move into new headquarters in 2013.
“We launched a concerted push for growth with a fresh, far more targeted and sales-focused approach and that has paid big dividends.
“We consolidated the business by switching all of our activities to a single site, which immediately created much improved facilities and far greater capacity.
"It made us massively more efficient at a stroke and produced significant savings.
“We also undertook an objective review of the entire workforce which laid down the foundation stone for the sales initiative.”
The launch of several new services helped had further positive implications on the Motiva Group balance sheet.
A new online platform enables customers to book rentals at the touch of a button, while a fresh accident management package and a new end-of-contract service were also introduced.
Motiva Group, which employs 62 people, is planning four key initiatives to build on its rapidly-improving position within the industry next year.
They include a major development project at the company’s Stoke-on-Trent headquarters and work to build modern, three-storey offices is expected to be completed by February.
Motiva Group is also planning major investment in new technology with a state-of-the-art IT platform, while two new products will significantly enhance its fleet management portfolio.
The company has a contract and leasing fleet of almost 5,000 vehicles through its Motiva Vehicle Contracts brand.
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