Updates and Ideas

Speedy Hire - Introduce stop-loss at 565p

July 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.

The slide in shares of Speedy Hire reflects both its construction related activities and the high level of gearing it has taken on to fund its acquisition-led expansion but while its use of debt was previously applauded it is now abhorred. Nevertheless, final results for the year to 31 March were in line with expectations with revenues increasing 39% to £466m and pretax profit rising 19% to £48.1m. Gearing increased from 103% to 106.5%.Speedy's tool hire division, which stocks ladders, access towers, electrical drills and small generators, increased revenues almost 47% to £258m. However, this result was boosted by last August's acquisition of Hewden Tools, which added another 188 depots to take the total to 488 ...

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Silverdell

TMI Trader Portfolio - July '08

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)

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 firmâ€™s earnings forecast to grow 50% over next two years (June 2007)

Speedy Hire - Another in-fill acquisition (December 2006)

Speedy Hire - Substantial acquisition (July 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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