Speedy Hire remains confident in full year

Tools and equipment hire business Speedy Hire said third quarter revenue increased from the same time a year earlier, and its performance in the final quarter to date underlines its confidence in meeting full year guidance.

In the UK & Ireland revenue, during the quarter to February 12th 2013, rose 2% against the same period in the prior year, a year to date improvement of 2.2%.

"We have also continued to make good progress in our International business where Q3 revenue was up 37% against the same period in the prior year, a year to date improvement of 63%," the group said in a statement.

Importantly both margins and returns have continued to improve across the group, it added.

"Speedy's consistent strategy, market positioning and strong market share in key sectors continues to underpin the on-going progress being made by the group," it explained.

The figures exclude the disposed accommodation business and before planned disposals of hire fleet.

CJ