26th Jun 2024 10:29
(Alliance News) - HSS Hire Group PLC shares edged higher on Wednesday, after it said it expects annual earnings to be in line with expectations.
The Manchester, England-based company provides tool and equipment hire and related services in the UK and Ireland. Its shares were up 4.2% to 7.60 pence each in London on Wednesday morning.
"The group has continued to make strategic progress with both the HSS ProService and HSS Operations business plans," HSS said.
It added that it has delivered "solid" financial performance in the first five months of financial 2024, with revenue growth of 4% compared to the same prior year period. HSS Hire's last financial year ran to December 30.
It noted that this has been achieved despite the impact of the mild winter on seasonal product performance.
Looking ahead, HSS said it expects full year adjusted earnings before interest, tax and appreciation to be in line with market expectations.
However, it warned that it remains "mindful of the macro-environment including the impact of the upcoming election."
By Sophie Rose, Alliance News senior reporter
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