Ainscough Crane Hire Ltd Posts First Profitable Year Since 2018 – Heavy Lift News
20 Jun 2024

Ainscough Crane Hire Ltd Posts First Profitable Year Since 2018

Ainscough’s latest figures reveal that they have recorded higher revenues and a pre-tax profit in the year to September 2023, the first profitable year for Ainscough since 2018.

The company’s financial results for the year to September 2023 show that total revenue for the year increased by 21% to £116.8m delivering a profit before tax of £7.6m.

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 Ltd.

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.”

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