GAP Group has announced that capital expenditure on plant, tools and equipment for the first eight months of the firm’s trading year has reached £58 million.
This represents a £12.1 million (circa 26%) increase when compared to the same period last year. The group, which will celebrate 50 years in business in 2019, said it is on target to break the £200 million turnover barrier this financial year.
Head of procurement Ken Stewart said, “All our eight divisions are showing a healthy increase in capital expenditure as we continue to benefit from increased utilisation levels. Investment in unmanned plant this trading year has resulted in excess of 900 excavators and 400 dumpers being purchased to date.”
GAP now has 142 depots around the country. “Continuity of supply has been maintained throughout the year with no delivery issues being experienced,” Ken Stewart said. “By investing heavily, we are able to continually reduce the age profile of our fleet, allowing our valued customers to take delivery of high-specification equipment which conforms to the latest legislation.
“Our tools and relatively young non-plant divisions have also benefited from this substantial investment with some excellent financial performances being recorded. Investment in our extensive fleet of commercial vehicles and our national depot network is excluded from the aforementioned £58 million.”