Speedy Hire PLC Trading Statement (5875O)
October 03 2019 - 2:00AM
UK Regulatory
TIDMSDY
RNS Number : 5875O
Speedy Hire PLC
03 October 2019
3 October 2019
Speedy Hire Plc
("Speedy" or "the Group")
Trading update
Speedy, the UK's leading provider of tools and equipment hire,
and services to the construction, infrastructure and industrial
markets provides an update on its trading performance for the
period to 30 September 2019 ahead of publishing half year results,
scheduled to be announced on 13 November 2019.
Group revenue, pre disposals, increased by c.6% on the prior
year. Hire and services revenue grew by c.1% and c.13%
respectively. Revenue from SME customers continued to grow
strongly, up by more than 25% in the first half compared to prior
year.
Net debt is expected to be c.GBP86m (31 March 2019: GBP89.4m),
and reflects continued investment in hire fleet, which is predicted
to reduce in the second half of the year.
A number of contract wins and extensions including CALA Homes
and Peel Ports have been secured in the period. As a consequence,
the second half of the year is anticipated to be stronger than the
first half. The Group expects adjusted profit before tax for the
full year to be in line with the Board's expectations.
Enquiries:
Speedy Hire Plc Tel: 01942 720
000
Russell Down, Chief Executive
Chris Morgan, Group Finance
Director
MHP Communications Tel: 0203 128
8771
Oliver Hughes
Andrew Jaques
Ollie Hoare
Inside Information: This announcement contains inside
information.
Forward looking statements: The information in this release is
based on management information. This report includes statements
that are forward looking in nature. Forward looking statements
involve known and unknown risks, assumptions, uncertainties and
other factors which may cause the actual results, performance or
achievements of the Group to be materially different from any
future results, performance or achievements expressed or implied by
such forward looking statements. Except as required by the Listing
Rules and applicable law, the Company undertakes no obligation to
update, revise or change any forward looking statements to reflect
events or developments occurring after the date of this report.
Notes to Editors: Founded in 1977, Speedy is the UK's leading
provider of tools, equipment and plant hire services to a wide
range of customers in the construction, infrastructure and
industrial markets, as well as to local trade and industry. The
Group provides complementary support services through the provision
of training, asset management and compliance services. Speedy is
certified nationally to ISO50001, ISO9001, ISO14001 and OHSAS18001.
The Group operates from over 200 fixed sites across the UK and
Ireland together with a number of on-site facilities at client
locations, from an international office based in Abu Dhabi and
through a joint venture in Kazakhstan.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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