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Speedy Hire profit more than doubles as customer numbers swell

By BFN News | 09:51 AM | Wednesday 14 November, 2018


Tools and equipment rental group Speedy Hire more than doubled its first-half profit after it grew its customer base. Pre-tax profit for the six months through September rose to £13.2m, up from £6.0m on-year. Revenue rose 6% to £194.6m and adjusted profit, which excluded proceeds from asset sales, increased 26% to £13.4m. Speedy Hire declared an interim dividend of 0.60p per share, up 20% on-year. 'These results demonstrate the progress we have made in implementing a customer focused strategy and growing our SME customer base,' chief executive Russell Down said. 'We have further improved our customer service proposition and the use of technology to better manage the business and meet market challenges.' 'We remain confident of delivering a result for the full year in line with our expectations.' At 9:51am: (LON:SDY) Speedy Hire PLC share price was +0.4p at 58.6p Story provided by StockMarketWire.com

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