Finning's rental business grows

By Murray Pollok18 March 2008

Finning International's rental businesses in Canada and Latin America grew by 23,6% and 38% respectively in the three months to 30 June this year. Its Hewden subsidiary saw revenues in local currency grow 5,6% in the same period.

Finning's rental business in Canada reported revenues up to C$68,6 million from C$55,5 million. The company said the increase was “a result of strong customer demand in this sector and a corresponding increase in the rental fleet. All rental categories continue to generate strong returns.”

The company opened two new Cat Rental Stores in Canada during the quarter, plus another in August, and now has a network of 33 stores in western Canada.

Revenues at its UK Hewden business-now excluding the tool hire operation sold to Speedy Hire – rose by 5,6% to C$113,6 million for the quarter. Finning said the UK company “continues to be impacted by lower rental utilisation rates and Hewden's inability to achieve price realisation targets. This is due to a competitive market in the UK as well as management being deployed in various initiatives to generate future benefits.”

Finning's rental business in Latin America – in Chile, Argentina, Bolivia, and Uruguay-are much smaller in scale, but growing fast. Revenues in the three months grew by 38% to C$13,0 million.

Delivered directly to your inbox, International Rental Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
Himoinsa to launch battery power genset
EHR Battery Power Generator range offers up to zero emissions and lowers fuel costs through efficient energy use
Rental rate rises assist Sunbelt to pre-Covid revenue levels
Sunbelt Rentals’ first quarter revenue up 22% on 2020 and 12% on 2019, partly thanks to increasing rental rates
Husqvarna invests €1m in Anglo-German tech firm
Swedish manufacturer takes equity stake in the software company which maximises augmented reality technology to boost efficiency 
Murray Pollok Managing Editor Tel: +44(0)1505 850 043 E-mail:
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: