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Zenith profits up

Date: 14 July 2008   |   Author: Tom Webster

Andrew Cope, Zenith Provecta CEO

Profits at Zenith Vehicle Contracts were up by 26% to £5.3m in the 12 months up to March 31 2008.

Turnover has risen by 27% to £83m in the same time.

Zenith's fleet grew by almost a third over this period to 19,000 cars

The fleet now stands at 26,000 due in part to the recent takeover of employee car ownership scheme specialist Provecta.

While the firm's organic growth in 2007 was down to the addition of a number of blue chip customers including Otto UK, Cussons and BP.

"This is a terrific performance and reflects the commitment and hard work of our team in a very competitive environment," said Zenith chief executive Andrew Cope.

"We are obviously moving into a more difficult market environment," continued Cope.

"But I believe that our long-term strategy of innovation, quality service and value for the customer will deliver the platform that allows our business to grow organically."