Helphire sees its profits grow by 63%

Non-fault accident management company Helphire Group plc has announced its financial results for the 2006 to 2007 financial year, showing a 49% growth in turnover to £290m and a 63% increase in pre-tax profit to £40.3m.

The company claims it has benefited from a growth in market demand for replacement vehicles from insurance and automotive industry sources; last year it saw a 34% increase in hire volumes, totalling 148,340, while the number of credit repair cases increased by 33% to 55,116. Capital expenditure for the year reached £146m, of which £132m was spent on its fleet.

Established in 1992.

Helphire has become the market leading credit hire company, with 29 depots and a fleet of more than 17,000 vehicles. Future growth is expected to be helped by an exclusive three year deal signed with Pendragon in June.