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Lex Services doubles first-half profits thanks to RAC

Lex Services, the vehicle licensing business that has transformed itself into a business services group, has reported pre-tax profits up from £19.3 to £43.4m.

A strong contribution from the RAC, Lex Services' roadside recovery business, helped raise profits by 124%. Lex said that the acquisition of Auto Windscreens and winning more vehicle outsourcing contracts offered a strong platform for continued profit growth.

Lex has a £500m contract with the Ministry of Defence to provide 10,000 vehicles over the next 10 years, and is actively looking for more outsourcing contracts from corporate and public sector organisations.

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