Speedy Hire grows despite decreased UK revenues

Published:  18 April, 2013

Overseas revenues have driven growth at Speedy Hire.

In a trading update for the year to end March, Speedy Hire highlighted new contract wins with National Grid in the UK and Zadco in the Middle East.

Underlying group revenues in the fourth quarter were up 0.2 percent year-on-year, driven by international revenues which were up 55 percent, while revenues from the UK and Ireland fell 2.2 percent. Full-year underlying revenues were up 3.7 percent driven by a 61 percent boost in overseas revenues, with domestic revenues up 1.1 percent.

Speedy Hire said it had made further progress in reconfiguring its depot network and made improvements in operational efficiency. It expects to report pre-tax profits marginally ahead of previous expectations when it announces its full results on 15 May.

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