Just sold 2/3 of my stake, as 55 was my target. Hoping 55 is a spike and that I can get back in around 50, as long term this is heading north. One of the companies that I hope will pay for my early retirement!
BRIEF-Speedy Hire - FY adjusted pretax profit up 35.5 pct to 16.8 mln stg15 May 2013 - 07:20
LONDON, May 15 (Reuters) - Speedy Hire PLC <SDY.L>: * 35.5 pct increase in adjusted pretax profit to 16.8 mln stg (2012: 12.4 mln stg) * FY revenue rose 4.3 percent to 340.4 million STG * Source text ID: [ID:nRSbPLpjN] ((London Equities Newsroom; +44 20 7542 7717)) ((For more news, please click here [SDY.L]))
Our strategy and actions have been instrumental in generating this year's momentum and have laid the foundations for future growth. Given the uncertainty in the economy we will continue with our disciplined approach to investment and the cost base to ensure that we are well placed for the future.
Our market-leading position and strong cash flow have positioned the Group to take full advantage of any market upturn and although there is still uncertainty in the economy, and the UK construction sector in particular, we are confident that the actions we have taken have increased our resilience and given us a solid platform upon which to build.
Hi cliffi and hugh. Quite surprised myself at the rise here. I thought it would hold around 45-50p until Y/E results (out tomorrow I think). Well, all I can think is that the news must be good and all the employee's and their families are buying in! I'm not a holder of SDY because I figured the news with Balfour Beatty was an indication of their UK business, and as they had already mentioned that the UK was down, I held off buying in! Oh well, another opportunity missed..!
Still in myself, but wondering if I should be selling soon. Not sure where this particular rise is heading to. I had pencilled in 55 as my target but long term it has much higher to go than this. Very much tied to the economy in general though, a good indicator of how we may be getting out of the mess.
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