Ainscough Crane Hire has filed its results for the year to September 2024, which show profit after tax increased to £8.6m, up from £6.1m in 2023.
In the year before that the private equity owned crane operator had had six consecutive years of losses.
Revenue for the year to September 2024 was up 4% to £121.9m, from £116.8m in the previous year.
Directors said that the improved trading performance in recent years, following a number of years of disrupted trading, including the covid years, had provided a more stable environment and supported investment in the crane fleet. In the year to September 2024, Ainscough invested £26.0m in fixed assets, of which £24.5m was in cranes. Despite this increased investment, headroom under available borrowing facilities remained high at £29m.
Chief executive Peter Gibbs said: “The UK construction market continues to be a challenging environment in which to operate. However, Ainscough’s relentless focus on safety and service provides a compelling offer for those customers operating to the highest standards. We continue to re-invest our profits into the latest crane models offering greater levels of capability and flexibility to satisfy the needs of our customers.”