19.02.2007

AFI-Uplift almost top of the profits

Powered access rental company AFI-Uplift came 5th in the Sunday Times top 100 list of British companies with the fastest growing profits.

The Sunday Times Deloitte Buyout Track 100 league table features private equity-backed mid-market companies with the fastest growing profits over the latest two years.

In the two years up to AFI’s latest audited financial year (December 2005) the company’s profits rose 101 percent a year, from £1.5 million in 2003 to £6 million in 2005. Profits are defined as earnings before interest, tax, depreciation and amortisation (EBITDA).

Last September the company expanded further by merging with Uplift Power Platforms in a deal backed by Barclays Private Equity. As well as being ranked 5th nationally, Wakefield-based AFI tops the list of companies based in the North East.

AFI-Uplift Director Nick Selley said: “We are continuing to reinvest our profits into the company, to expand our depot network and our hire fleet. We currently have over 200 staff in 16 depots throughout the UK, and our fleet now exceeds 3,300 machines, with the latest investment being an additional £12 million to purchase a further 800 machines.”