Multi-million pound investment pays off
East Midlands commercial truck rentals firm RH Rentals has enjoyed a year of rapid expansion, investing £8.5m in Renault trucks and increasing its fleet by more than 200%.
Supporting the growth, RH Rentals acquired a large number of new contracts last year, from own account operators through to hauliers. In addition, the firm secured a contract with a leading supermarket, supplying an initial batch of 20 new Renault vehicles.
Robert Pick, financial director at RH Rentals said, ‘The commercial rental sector continues to be a strong market, but it is now growing faster than anticipated as more operators and hauliers recognise the benefit of the rental and contract hire model. As a result, 2016 exceeded our expectations resulting in an exciting year of expansion for RH Rentals.
‘At the start of the 2016, we had plans in place to invest £6.5m in trucks and staff over 12 months but due to high demand, we needed to spend an extra £2.1m. We will continue to invest at a similar level over the coming months in order to meet anticipated customer orders this year.’
RH Rentals tailored services include contract hire, fleet management, and truck and trailer rental and contract maintenance for both SMEs and larger well-established organisations.