The share price of the industrial equipment business Speedy Hire came under pressure in early trade after the company published full year results this morning. The company is part way through a transformation plan which management note is setting the foundations for future growth and leaves the business well placed for when the recovery arrives, but macroeconomic uncertainty is taking a toll in the short term. Revenues were trimmed marginally but adjusted pre-tax profits fell to £8.7m. Despite the dividend being maintained, the Speedy Hire share price was down over 4% in early trade.
Component manufacturers Dewhurst Group issued interim results this morning with the company noting a solid start to the year, in line with expectations. Operating profits are up 5% whilst margins have improved to 12%. There’s some uncertainty over the potential impact of tariffs on sales to the US and this is causing wider delays and management note that the H2 outlook is set to be challenging, hampered by a number of headwinds in key markets. The interim dividend is being maintained, but again the market has offered the news a lukewarm response, with the Dewhurst Group share price down as much as 11% in early trade before recovering some of the losses.
The micro computer manufacturer saw its share price take a hit in early trade after the company disclosed that the CEO and CFO had collectively sold 500,000 shares worth around £2.2m following the expiry of the post-IPO lock up period. The sales are described as being for personal financial planning reasons and both remain significant shareholders in the business. Regardless, the Raspberry Pi share price found itself under some pressure off the back of the news, trading almost 3% lower at the open but those losses have already been pared back to an extent.
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