International sales boost Speedy Hire revenues

Published:  18 October, 2012

NEWTON-LE-WILLOWS: Tool and equipment rental group Speedy Hire said first half revenues were up on last year, driven by surging international sales.

In a trading update for the six months to September 30, it said underlying revenues had increased 5.3% when compared with the same period last year.

Its international division had seen a 77% increase in sales, due to winning more work in the oil and gas sector.

Speedy said its UK revenues were up 3.2%. Speedy will report its interim results next month and said overall trading had been "in line with the board's expectations."

Chief executive Steve Corcoran said: "Continued implementation of the Group's strategy and a range of self-help measures have seen Speedy make further progress during the first half.

"Although market conditions remain challenging, the Board is confident of meeting its expectations for the financial year and continues to look to the future with confidence."

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