5th Apr 2006 07:00
Speedy Hire PLC05 April 2006 5 April 2006 Speedy Hire Plc ("Speedy Hire" or "The Group") Trading Update The Board of Speedy Hire is pleased to provide the following update on tradingin advance of its preliminary results for the 12 months ending 31 March 2006. Trading for the first 11 months of the year has been strong with total turnoverincreasing by 22%. This increase reflects Speedy's organic growth, newgreenfield depots and our recent acquisitions. Our markets remain solid and wecontinue to win market share. The Tool Division has generated a like for like increase of 9% with all regionsexperiencing record levels of trading. Our Equipment division, which allows usto offer a broader range of products to ever wider markets, has performed welland has been the focus of our acquisition programme. During the financial year Speedy has made four acquisitions for a totalconsideration of £35m and these are being integrated into the Speedy network.Our strong balance sheet enables us to consider further acquisitionpossibilities as they arise in a still fragmented sector. Speedy Hire will announce its preliminary results on 31 May 2006. www.speedyhire.plc.uk Speedy Hire Plc Hudson SandlerSteve Corcoran, Chief Executive Nick Lyon Neil O'Brien, Group Finance Director James BenjaminTel: 01942 720 000 Tel: 020 7796 4133 Notes to editors: Speedy Hire is the number one provider of equipment hire services in the UK,operating from over 300 depots throughout the country. The Group is focusedprimarily on tool hire, with complementary businesses specialising in portableaccommodation, lifting equipment, surveying and measurement instruments andcompressed air and power generating equipment. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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