Ninth year of growth for vehicle firm

By Gill Harris on 21 August, 2018

Hitachi Capital UK has revealed nine years of successive growth in its annual results.

The firm, which employs around 200 people at its Vehicle Solutions unit in Trowbridge, has announced pre-tax profits of £116.4m for 2017/18, 7.1% up from 2016/17 and six times that of 2009/10.

Hitachi Capital UK, which employs 1,200 people across the UK and the Netherlands, secured £3.5bn of new business in the past 12 months and ended the year with net earning assets of £4.8bn.

Its pre-tax profits are 8.4% higher than the average for FTSE 250 companies, putting the business firmly among the UK’s biggest and best performing companies.

Robert Gordon, CEO of Hitachi Capital UK, said: “Hitachi Capital (UK) PLC is now ranked among the fastest growing financial services firms in terms of sales growth, while our profitability makes us one of the top performers not only in the industry but also when compared to some of the UK’s biggest and most well-known companies.

“It’s particularly pleasing to demonstrate consistent, long-term growth within a challenging and competitive sector, and against a backdrop of general economic uncertainty.

“The processes, systems and strategies we’ve put in place provide a solid foundation for continued growth in the years to come.”

The firm’s Trowbridge office is home to around 200 staff and is one of two sites that service the business’s Vehicle Solutions division.

Hitachi Capital Vehicle Solutions generated pre-tax profits of £24m in 2017/18 and has grown significantly over the past 10 years. Annual business volumes rose from £100m in 2009 to £370m in 2017/18. It now operates more than 67,600 assets, valued at £882m, and is one of the top 10 largest leasing companies in the UK.

Hitachi Capital Vehicle Solutions is the only UK vehicle funding and fleet management provider to deliver Total Asset Solution, managing a comprehensive range of assets, including HGVs and plant machinery, as well as being able to work with clients and manufacturers to design and build bespoke, specialist assets suited to individual requirements.

The company puts its success down to its goal of providing outstanding customer experience. It has earned consistently high scores for customer service across key metrics and it won multiple awards at the Commercial Fleet Awards 2017.

Jon Lawes, managing director of Hitachi Capital Vehicle Solutions, said: “The strong results for Hitachi Capital Vehicle Solutions are testament to the hard work and dedication of our teams at our sites in Newbury and Trowbridge – it’s a fantastic achievement.”

Pictured above: Hitachi Captial UK in Trowbridge