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Speedy Hire - Q3 revenue up 43%

April 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • SDY
  • Price:
  • 754p
Tool and equipment hire firm Speedy announced positive results for the nine months to 31 December. Overall revenue rose 39% and an even better 43% in Q3 alone with both the tool and equipment divisions showing robust growth. Meanwhile the acquisition of Hewden Tools, which increased net debt to £271m, is now complete with the ex-Hewden network being rebranded as Speedy Hire. Speedy’s outlook statement was quite cheerful and it pointed out that its principal markets remained strong while the post Christmas period started well. Speedy again reiterated that it has limited exposure to the struggling housebuilding and retail markets. Based on eps forecasts of 94.6p for the year about to sta ...

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Speedy Hire (November 2004)
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