Parent company Henry Boot has described Banner Plant’s trading results for the first six months of 2011 as “encouraging” adding, however, that it is “maintaining the cautious approach adopted over the last two years”.
All categories of equipment traded well at Banner, the company said, but growth was particularly strong in powered access and accommodation.
This improvement in activity has enabled the purse strings to be loosened a little to expand the fleet. Investment has been increased mini-excavators and telehandlers as well as powered access and accommodation units.
The rate of disposal of older inventory has also slowed.
In its interim financial statement, Henry Boot said of Banner: “This increased investment has been balanced against depreciation charges with the aim of remaining cash flow neutral during the year and borrowings within the plant business remain at their lowest levels for over ten years.”