ZIGUP PLC, a leading integrated mobility solutions platform, has reported strong underlying results for the full year ended 30 April 2024. The company's revenue saw a significant increase, with reported revenue up by 23.0% and underlying revenue up by 13.7%. The CEO, Martin Ward, expressed delight in reporting another year of record performance, with strong underlying growth. The company has seen continued strong demand for its integrated mobility solutions from existing and new partners, providing future quality revenues.
Key financial highlights include total revenue growth of 23.0%, supported by both annualization of FY2023 contracts and increased activity within recent Claims & Services contracts. Vehicle hire revenue rose by 6.4%, with Spain up by 8.4% and the UK&I up by 4.6%. The company also reported disposal profits of £61.9m, higher total sales volumes, and steady net capex. ZIGUP's strong balance sheet with stable 1.5x leverage and shareholder returns, including a 7.5% increase in full-year dividend to 25.8p, were also highlighted.
In terms of business highlights, ZIGUP reported a stable group fleet of over 128,000 vehicles, with improvements in access to supply expected in the calendar year 2024. The company also broadened its rental and ancillary services offerings, enjoyed continued growth and a strong pipeline in its Claims & Services business, and invested in increasing capacity and efficiency through new facilities. ZIGUP also launched a corporate rebranding in May 2024, including renaming to ZIGUP plc with a new strategic framework reflecting growth aspirations and a forward-looking purpose focused on keeping customers mobile, smarter.
Looking ahead, ZIGUP remains optimistic, stating that it has a healthy prospect pipeline across its businesses and that demand for its services remains robust. The company also noted that LCV residual values have performed well as anticipated over the last few years.