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Speedy Hire - Now over 280 tool hire depots

July 2004

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
Full year results from Speedy Hire for the year ended 31 March show a continuation of its amazing record which has seen operating profit grow nearly thirteenfold to £25.5m in the last eleven years.  At the pretax level, Speedy grew profit by 17% to £22m on an 18% rise in turnover to £170m.  Earnings increased 23% to 38.7p.   Ashas been the pattern in recent years, growth came from a mixture of market share gains (like-for-like sales growth of 9% outstripping market growth of 3%) and expansion of the estate.  A net 19 depotsopened last year, (comprising 15 acquisitions, 8 green field and 4 closures), taking the total to just over 280.   During the year Speedy spent a net £41m in capex to mainta ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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