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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Speedy Hire - Substantial acquisition

July 2006

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:
  • 876p
Results from tool hire operator Speedy Hire for the year ended 31 March came in at the top of expectations with pretax profit, before amortisation and exceptional items, increasing 25% to £32.2m from turnover ahead 23% at £254m. Earnings rose a slightly lower 17% to 52.9p reflecting a higher tax charge of 27.5% and more shares in issue. In spite of capex of £78.5m on new equipment, Speedy’s balance sheet remains strong at the year-end with debt interest covered more than six times by operating profit. Speedy’s tool hire division, which stocks items such as access towers, lighting equipment and electrical tools, saw turnover rise 17% to £151m driven by like-for-like sales growth of 9%, more th ...

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Speedy Hire - Tool hire group growing asset utilisation and ROCE rapidly (August 2019)
Speedy Hire - Take profits and sell (February 2014)
Speedy Hire - Tool hire group forecast to increase eps 108% over next three years (September 2013)
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Speedy Hire - Q3 revenue up 43% (April 2008)
Speedy Hire - Prospective PE for 2009 just 9.3 (January 2008)
Speedy Hire - Acquires leading rival (July 2007)
Speedy Hire - Tool hire firm’s earnings forecast to grow 50% over next two years (June 2007)
Speedy Hire - Another in-fill acquisition (December 2006)
Speedy Hire - Tool hire firm enjoying strong demand (April 2006)
Speedy Hire - Another chance to take profits (June 2005)
Speedy Hire - Take some profit after re-rating (March 2005)
Speedy Hire - Shares finally break their shackles (January 2005)
Speedy Hire (November 2004)
Speedy Hire - Like-for-Like sales up 11% (September 2004)
Speedy Hire - Now over 280 tool hire depots (July 2004)
Speedy Hire - Earnings forecast to grow 31% in next two years; prospective PE just 9.9 (May 2004)

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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