18th Jul 2006 07:00
Speedy Hire PLC18 July 2006 18 July 2006 Speedy Hire Plc CHAIRMAN'S AGM STATEMENT At the Annual General Meeting to be held at 11:00am today Chairman David Walliswill give the following update on the Company's progress since the start of thecurrent financial year. "I am pleased to report that the new financial year has started well withoverall first quarter turnover increasing by 29% on the comparative quarter lastyear. This represents an increase of 25% on last year, after adjusting for therecent LCH Generators acquisition announced on 15 May 2006. Both the Tool Hireand Equipment divisions continue to perform well. Tool hire turnover increased17%, including a like for like figure of 7.4% which given the timing of theEaster trade shutdown we regard as highly satisfactory. All companies withinthe equipment division performed strongly with turnover increasing 50%. On the 30 June 2006 Speedy Hire joined the FTSE 250. This success bearstestament to the commitment and dedication of all our people and on behalf ofthe Board I would like to thank them for their efforts. Our major customers continue to report strong order books and the market outlookremains positive. There is some evidence of certain government-backed projectsbeing delayed. However, trading performance is in line with our expectationsand overall we remain confident of reporting further progress for the groupthroughout the remainder of the financial year." For further information: Speedy Hire Plc Hudson SandlerSteve Corcoran, Chief Executive Nick LyonNeil O'Brien, Finance Director Kate HoughTel: 01942 720 000 Tel: 020 7796 4133 Website: www.speedyhire.plc.uk Notes to Editors: Speedy Hire is the UK's No.1 provider of tools and equipment for hire. TheCompany operates from over 300 depots throughout the UK. The Group has alsorecently commenced trading in the Republic of Ireland. The Group's activities are the provision for hire of small tools, portableaccommodation, compressed air, pumps, lifting and material handling, survey andmeasurement instrumentation and power generation equipment. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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