Healthy half-year for Speedy

By Joe Malone14 November 2017

UK rental company Speedy Hire has recorded a successful half-year period, with revenues growing 6.9% year-on-year, to £183.2 million (€204.71 million).

Speedy hire

The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) also grew 11.2% for the first half of the 2017-18 financial year period – from 1 April to 30 September – to £33.8 million (€37.77 million).

Speedy said its UK and Ireland operations had been restructured to align better with its customer proposition which, in turn, improved opportunities for cross-selling and operational efficiencies.

Fleet utilisation also improved for the UK company, at 54.7%. It said in 2016, its fleet utilisation was 49.1%.

Russell Down, Speedy Hire CEO, said, “These results are confirmation of the sustainable progress we continue to make following implementation of our customer focussed strategy and a rigorous approach to capital allocation and cost control.

“Our end markets are diverse and remain competitive. The improvements we have made to our operations have enabled us to more effectively manage the business and meet market challenges.”

Down added that the company was confident of delivering a result for the year above current expectations and that the group had a strong future ahead.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Access International Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Webinar to explore trends in Spain’s rental sector
Jointly organised by ASEAMAC and SMOPYC, webinar will explore key rental trends in Spain
Coates CEO Murray Vitlich on ‘the evolution of hire’
Read IRN’s exclusive interview with CEO of Coates, Australia’s largest rental company
EFI invests in Pulseo scissors
Tennessee-based rental company purchases Haulotte HS5390 E PRO scissors
CONNECT WITH THE TEAM
Euan Youdale Editor, Access International Tel: +44 (0)1892 786 214 E-mail: euan.youdale@khl.com
Ollie Hodges Sales Manager Tel: +44 (0)1892 786253 E-mail: ollie.hodges@khl.com
CONNECT WITH SOCIAL MEDIA