UK lifting service provider Ainscough Crane Hire has announced its financial results for the year to September 2023. The figures show higher revenues and a pre-tax profit, the first profitable year for Ainscough since 2018.
Total revenue for the year increased by 21% to £116.8m delivering a profit before tax of £7.6m.
According to Ainscough the revenue growth reflects improved market conditions, particularly for infrastructure activity, combined with increased hire rates and cost controls which helped to partially off-set the inflationary cost environment across the UK economy.
This financial year also coincided with Ainscough’s first year of carbon neutral trading as noted in the filed accounts following certification by Carbon Footprint.
Chief executive Peter Gibbs said: “Following a number of challenging years for Ainscough, and the industry as a whole, it is pleasing to see a return to profitability despite the cost inflation pressures that we have all experienced. It confirms my belief that a sustainable, safety-led approach to lifting is something that is valued by our customer base and we are proud to lead in these areas.”
