Equipment hiring packages bring PKL turnover and profit increases

PKL's hiring solutions have driven company growth.

Cheltenham-based PKL, which supplies outsourced catering infrastructure including temporary kitchens, catering equipment for hire and permanent modular kitchens, has recorded a steady financial year.

According to its latest publicly available report from Companies House, in the 12 months to 30 April 2019 the company generated £16.5m in turnover, 0.5% up on the 2017-18 financial year’s total of £16.4m.

Revenue from kitchen equipment rental was recognised in the report over the rental period and revenue from sales of other related goods and services was recognised at the point the sale is completed.

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Operating profit also grew from £3.1m to £3.4m, a 10% rise.

COO Lee Vines and director Paul Lavery stated in the report: “PKL’s recently-launched U-Select division exhibited a good level of growth during the year, through the hire and sale of catering equipment to predominantly start-up and independent businesses.”

Looking ahead, they wrote: “While the development of core business sectors remains a key area of focus, the company seeks continued growth in its U-Select division, as well as establishing a share of the market for the disposal of food waste through the recently-launched Garbage Guzzler division.

“The directors have prepared forecasts for the coming 12 months that show the company will continue to trade well within its facilities throughout this period. Trading is expected to be profitable.”

Subsequent to this accounting period, PKL was bought out by refrigeration and catering equipment hire firm Lowe Rentals.

Tags : businesscatering equipment hirefinancial resultsfinancialsleasingPKL
Clare Nicholls

The author Clare Nicholls

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