Vehicle and plant hire business, Nexus Rental, has reported a very strong financial year with gross revenues rising 30 per cent to £249m.
The firm says this reflected grow in both existing and new customers. Net revenues also increased by 18 per cent, with EBITDA following a similar path. The latest figures mark over 10 years of consecutive revenue increases.
Leeds-based Nexus says its success in the last financial year was supported by the onboarding of one of its largest clients so far, Lex Autolease, as well as ongoing investment in its technology platform, Iris.
Nexus currently provides users with over 500,000 vehicles, 100,000 plant vehicles and 50,000 HGVs from at least 300 UK suppliers.
Through the last 12 months its team has grown by more than 50 new members of staff, including a chief operating officer, chief revenue officer, chief technology officer and chief people officer.
Alex Cook, chief financial officer, said: “This year’s performance really highlights the importance of pairing a scalable technology platform with proactive investment and a strong team.
“This enables us to continue the great relationships and service to existing clients, alongside strong supplier partnerships and further enhancements to our Iris® platform.
“Alongside the tech investment, we’ve also put a lot of focus into strengthening the team across the business. Our board includes several key industry players who are ready to drive Nexus forward into the next stage of growth.
“The strong financial results underscore our proactive approach and I’m excited for the next 12 months and years ahead.”
Looking forward to the 25/26 financial year, the business says is it aiming for another year of double-digit growth, and notes its pipeline of future opportunities is at “record” levels.
The business says it is beginning to lay the groundwork for international expansion, as well as further enhancing the UK arm of its business.