Enterprise Rent-A-Car's º£½ÇÊÓƵ operations have driven job creation upwards, with over 700 new roles generated as the company rides a wave of increasing demand that propelled its sales beyond the £2bn threshold in the latest financial year.
Stationed in Surrey, the º£½ÇÊÓƵ division of this American behemoth boosted its workforce to 6,778 during the 12 months leading up to 31 July, 2024, newly published accounts at Companies House have disclosed, as reported by .
This employee count marks an uptick from the 6,065 staff members on Enterprise Rent-A-Car's º£½ÇÊÓƵ payroll at the close of the previous year, which itself was significantly higher than the 5,120 individuals it employed as of July 2022.
The freshly filed documents further divulged that turnover at Enterprise Rent-A-Car surged from £1.8bn to £2bn within the year.
Despite this climb in turnover, pre-tax profits experienced a downturn from £246.6m to £178.6m over the same annual span.
Citing reasons for this profit slump, Enterprise Rent-A-Car flagged escalating vehicle expenses amplified by the rising average cost per unit alongside increased average monthly depreciation expenses per unit, attributing this to a larger proportion of its fleet depreciating at 1.7 per cent in 2024.
Nevertheless, the firm noted this effect was partly mitigated by heightened vehicle sales volumes.
Enterprise Rent-A-Car sales to continue rise
Looking ahead, the board's statement showcased optimism, underlining: "In fiscal 2024, the group saw growth in demand for rental vehicles amid more stabilised global market conditions compared to the previous three fiscal years."
"The alleviation of issues in the global vehicle manufacturing supply chain enabled the group to refresh and grow its rental vehicle fleet profile, investing in the ongoing commitment to meet the quality, diversity and availability needs of customers, in close alignment with global corporate strategic goals and values."
Enterprise Rent-a-Car was founded in Missouri, USA, in 1957 by Jack Taylor.
Looking ahead, the firm commented: "During fiscal 2025, management forecasts that demand for mobility services will continue to increase despite uncertainties and challenging conditions in the wider United Kingdom economy, as customers seek flexible, reliable and cost effective alternatives to traditional travel and vehicle solutions."
They also acknowledged current global political unrest and uncertainty, changes in global socio-economic trends, and ongoing cost of living pressures. As a result, they anticipate a healthy but moderate increase in revenue, aligning with their long-term global strategy and culture.
