Ardent Hire Solutions has published its latest financial results following a business restructure and major investment in its fleet.

Turnover for the year ended 31 March 2024 was £70 million, down slightly from the £75.1 million achieved in the previous financial period, generating a pre-tax profit of £2.7 million (FY2023: £8.1 million).
The company’s revenue decreased by 7 per cent versus the prior year due to a restructuring programme initiated in January.
Ardent Hire’s fleet size also reduced during the restructure, by 14 per cent.
The Bedfordshire-headquartered plant hire and sales business reported an operating profit this year of £13 million, compared to £14.6 million recorded in the prior year.
At the year end, Ardent Hire’s balance sheet had net assets and total equity of £59.7 million, compared to £83.4 million recorded the year before, with cash reserves of £438,000 (FY2023: £128,000).
“During the financial year, the company invested £58 million in new and replacement assets, in addition to a new HGV delivery fleet, with a total capex value of £7 million,” the business said.
“Fleet management continues to be a fundamental part of the company’s strategy and capital is allocated to high returning assets.”
Ardent Hire posted profit for the year of £1.3 million, down from £7.4 million the year prior.
No dividend was declared or paid during the year (FY2023: £Nil).
Was this interesting? Try: Willmott Dixon back in profit
If you have a tip or story idea that fits with our publication, please contact the news editor rory@wavenews.co.uk
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.