2nd Apr 2007 07:01
Speedy Hire PLC02 April 2007 2 April 2007 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 2007. Trading for the first 11 months of the year has been strong with revenueincreasing by 34%. This increase reflects Speedy's organic growth, 20 newgreenfield depots and two strategically important acquisitions, LCH Generatorsand Lifting Gear Hire, which were acquired for a consideration of £72.5m. Ourmarkets remain solid and we continue to win market share. The Tool Division has generated revenue growth of 14% including a like for likeincrease of 7.2%. Our Equipment Division, continues to enable us to offer abroader range of products to ever wider markets and produced a revenue increaseof 58%. The integration and performance of these businesses is proceeding inline with plan and their revenues represent approximately half of the increasein the Equipment Division turnover. Speedy Hire will announce its preliminary results on Wednesday 23 May 2007. www.speedyhire.plc.uk Speedy Hire Plc Hudson SandlerSteve Corcoran, Chief Executive Nick Lyon Neil O'Brien, Group Finance Director Wendy BakerTel: 01942 720 000 Tel: 020 7796 4133 Notes to editors: Speedy Hire is the UK's No.1 provider of tools and equipment for hire. TheCompany operates from over 350 depots throughout the UK. The Group alsooperates in the Republic of Ireland. The Group's activities are the provision for hire of small tools, portableaccommodation, compressed air, pumps, lifting, 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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