Trading Statement

Speedy Hire PLC
02 October 2002
                                                                  2 October 2002


                                SPEEDY HIRE PLC


                                 TRADING UPDATE


Speedy Hire is a leading provider of equipment hire services to UK contractors
and builders, industry, utilities and the public sector, operating from 250
depots throughout the country.  The Group is focused primarily on tool hire,
with complementary businesses specialising in portable accommodation, surveying
and power generation equipment.

Since the AGM statement on 24th July 2002, the Group has continued to make good
progress.  Total turnover for the first five months of the current financial
year increased by 25% and on a like for like basis by 5%.  We believe therefore
that Speedy Hire continues to gain market share.  Margins in our established
depots remain stable, while turnover and margins in the immature part of the
estate, including depots acquired from Jewson in January of this year, continue
to grow in line with expectations.  As previously reported the ex Jewson depots
have been fully integrated within Speedy Hire, albeit six of the 37 acquired
have been closed because of their geographical proximity to existing Speedy
depots and the trade transferred.

The final instalment of £5 million relating to the sale of the Housebuilding
division to Morris Homes was received, as expected, in August.  The proceeds
will be used in the short term to reduce bank borrowings.

We remain encouraged by the strength of the market overall, and profitability to
date is in line with our expectations.  Provided that there is no material
change in the general economic outlook, the business remains on track to deliver
a year of further progress.

The provisional date for the announcement of Speedy Hire's Interim Results for
the 26 weeks ended 29 September 2002, has been set as Wednesday 27 November.


                      This information is provided by RNS
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