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Annual Results

Speedy Hire swings to FY pretax profit

16 May 2017 09:13

Speedy Hire has swung to a FY pretax profit of £14.4m, from a year-earlier loss of £57.6m, and made a solid start to the new year.

CEO Russell Down said the results showed the success of Speedy's turnaround plan with significant improvements across all financial and operational performance measures.

"Whilst we have made a solid start to the year, the market remains competitive," he said.

"With the business now stabilised and a strong balance sheet, we are well positioned to take advantage of market opportunities and continue to deliver sustainable profitable growth."

It achieved this on improved revenue of £369.4m, from £329.1m. Total dividend was 1p a share, up from 0.7p.

At 9:13am: (LON:SDY) Speedy Hire PLC share price was +1.25p at 55p

Story provided by StockMarketWire.com

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