UK-based crane hire company Ainscough reported increased revenues and a pre-tax profit for its financial year 2023.
Total annual revenue increased by 21 percent to GBP116.8 million (USD148.4 million), resulting in pre-tax profit GBP7.6 million, its first profitable year since 2018. Ainscough has put its revenue growth down to improved market conditions, paired with increased hire rates and cost controls, helping to counteract inflation within the UK economy.
The company’s 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.”
Following certification by Carbon Footprint, Ainscough also confirmed that 2023 was its first year of carbon-neutral trading.
HLPFI reported the firm’s carbon-neutral switch in 2022. According to Ainscough, this was achieved through the move to HVO fuel for its 400-plus cranes and 30-plus transport and heavy goods vehicles (HGVs). It has also rolled out a combination of wider environmental initiatives across the business.
