12th Jun 2024 12:34
(Alliance News) - HSS Hire Group PLC shares fell on Wednesday, after it said it has lost Amey PLC as a client.
The Manchester, England-based company provides tool and equipment hire and related services in the UK and Ireland.
Its shares were down 13% to 7.34 pence each in London on Wednesday afternoon.
HSS said it has been notified by Amey of its decision to move to another supplier for the provision of its equipment-rental managed service contract.
The supplier agreement will end early December.
The agreement, which began in December 2015, accounted for approximately 7% of HSS revenue and 10% of adjusted earnings before interest, tax, depreciation and amortisation in 2023.
Amey is a London-based provider of engineering services for transport infrastructure.
By Sophie Rose, Alliance News senior reporter
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