Contract update

HSS Hire Group PLC

12 June 2024

 

This announcement contains inside information

12 June 2024

HSS Hire Group Plc

Contract update

HSS Hire Group Plc ("HSS" or "the Group") announces that, following a retender process it has been notified by Amey Plc of its decision to move to another supplier for the provision of its equipment rental managed service contract. The supplier agreement will end early December 2024 subject to any transitional services that HSS may agree with Amey. The agreement, which commenced in December 2015, accounted for approximately 7% of Group revenue and 10% of Group Adjusted EBITA in 2023.

HSS will provide an update on trading alongside its AGM on 26 June 2024.

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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated by the Market Abuse Regulation (EU) No.596/2014, as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain. The person responsible for the release of this announcement on behalf of HSS Hire Group plc for the purposes of MAR is Daniel Joll (Company Secretary).

Notes to editors

HSS Hire Group plc provides tool and equipment hire and related services in the UK and Ireland through a nationwide network of Group companies and third-party suppliers. It offers a one-stop shop for all equipment through a combination of its complementary rental and re-hire business to a diverse, predominantly B2B customer base serving a range of end markets and activities. Over 90% of its revenues come from business customers. HSS is listed on the AIM Market of the London Stock Exchange. For more information please see www.hsshiregroup.com.

For further information, please contact:

HSS Hire Group plc
Steve Ashmore, Chief Executive Officer Paul Quested, Chief Financial Officer David Smith, Director of Group Finance	[e-mail]
Teneo
Tom Davies Giles Kernick		Tel: [phone] Tel: [phone]
Numis Securities		Tel: [phone]
Stuart Skinner George Price

 

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