7th Apr 2005 07:00
Speedy Hire PLC07 April 2005 7 April 2005 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 twelve months ending 31 March2005. Since the interim results on 24 November 2004, the Group has continued to makegood progress. Total turnover for the first 11 months of the current financialyear increased by 18% and like for like turnover increased by 12% in the toolhire companies. All companies and all regions have experienced record levels oftrading. During the financial year Speedy has made five acquisitions for a totalconsideration of £19m. All our acquisitions have been successfully integratedinto the Speedy Hire network and have helped accelerate the group's expansioninto non-construction markets whilst further enhancing our service offering tocustomers. In addition, the Group disposed of its low return toilet hire business for£1.1m. The exit costs will result in a £0.6m exceptional charge relating tofees and asset write offs. We operate in a healthy commercial environment and continue to win market share. The Board is confident of meeting market expectations. Speedy Hire will announce its preliminary results on 1 June 2005. Website: www.speedyhire.plc.uk -ends- Enquiries: Speedy Hire Plc gcg hudson sandler Steve Corcoran, Chief Executive James Benjamin Neil O'Brien, Finance Director Tel: 020 7796 4133 Tel: 01942 720 000 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:
Speedy Hire