Ardent Hire continues fleet restructuring

UK-based rental company Ardent Hire has said its plan to restructure its fleet, which will see its portfolio of access and earthmoving equipment sold, is ahead of schedule.

To date, the company has sold 1,400 of its 2,000 units in the access and earthmoving categories following the announcement earlier this year that it is to focus on expanding its telehandler range.

As part of the strategy, the company, which said it expects the remaining 600 units to be sold by the end of 2024, has reduced its fleet size by 14% in the 2024 financial year, selling some 1,400 machines, 835 of which were part of its earthmoving portfolio.

However, overall fleet investment was up 16% on 2023, as it invested £58 million in new equipment as well as a new HGV delivery fleet.

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According to Ardent, fleet management “continues to be a fundamental” part of its strategy and “capital is allocated to high returning assets.”

Part of that has seen it increase the size of its rotating telehandler fleet to over 100 units, along with “a series of renewables categories.”

At the time of writing, its telehandler fleet comprises of over 2,400 units.

The announcement was made in its financial results for 2024, which revealed a 7% decrease in revenues for the year and a 65% decrease in profit before tax.

Ardent said the decrease was down to the restructure.