Speedy Hire PLC
02 April 2007
2 April 2007
Speedy Hire Plc
('Speedy Hire' or 'The Group')
Trading Update
The Board of Speedy Hire is pleased to provide the following update on trading
in advance of its preliminary results for the 12 months ending 31 March 2007.
Trading for the first 11 months of the year has been strong with revenue
increasing by 34%. This increase reflects Speedy's organic growth, 20 new
greenfield depots and two strategically important acquisitions, LCH Generators
and Lifting Gear Hire, which were acquired for a consideration of £72.5m. Our
markets remain solid and we continue to win market share.
The Tool Division has generated revenue growth of 14% including a like for like
increase of 7.2%. Our Equipment Division, continues to enable us to offer a
broader range of products to ever wider markets and produced a revenue increase
of 58%. The integration and performance of these businesses is proceeding in
line with plan and their revenues represent approximately half of the increase
in the Equipment Division turnover.
Speedy Hire will announce its preliminary results on Wednesday 23 May 2007.
www.speedyhire.plc.uk
Speedy Hire Plc Hudson Sandler
Steve Corcoran, Chief Executive Nick Lyon
Neil O'Brien, Group Finance Director Wendy Baker
Tel: 01942 720 000 Tel: 020 7796 4133
Notes to editors:
Speedy Hire is the UK's No.1 provider of tools and equipment for hire. The
Company operates from over 350 depots throughout the UK. The Group also
operates in the Republic of Ireland.
The Group's activities are the provision for hire of small tools, portable
accommodation, compressed air, pumps, lifting, material handling, survey and
measurement instrumentation and power generation equipment.
This information is provided by RNS
The company news service from the London Stock Exchange
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