Speedy Hire PLC Interim Management Statement (5720E)
February 11 2015 - 2:00AM
UK Regulatory
TIDMSDY
RNS Number : 5720E
Speedy Hire PLC
11 February 2015
Speedy Hire Plc
("Speedy" or "the Group")
Interim Management Statement
11(th) February 2015
Speedy, the UK's leading tools, equipment and plant hire
services company, operating across the construction, infrastructure
and industrial markets, today issues a trading update including the
third quarter from 1 October 2014 to 31 December 2014 and up to the
current date.
Inclusive of the third quarter, revenues for the first 9 months
of the year increased by 9.9% on the same period last year.
The network optimisation programme is on track to be completed
ahead of schedule by the end of the financial year with the Group's
new National Distribution Centre (NDC) in Tamworth now operational.
The NDC and 8 UK Multi-Service Centres will serve as hubs within
the Group's national network delivering greater efficiencies in
distribution, engineering and repair and asset utilisation.
In the Middle East good progress has been made on the
accelerated restructuring of the business and withdrawal from
general hire. This has been done to stem losses and build value in
the remaining Oil and Gas services business where the mobilisation
of major contracts is now all but complete.
Despite a challenging year in the Middle East, ongoing strong
performance of the Group in the UK gives the Board confidence that
results for the full year ending 31 March 2015 will be in line with
its expectations.
Speedy will issue results for the year ended 31 March 2015 on 12
May 2015.
Enquiries:
Instinctif Partners Tel: 020 7457 2020
Mark Garraway
Helen Tarbet
This information is provided by RNS
The company news service from the London Stock Exchange
END
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