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Speedy, the UK's leading tools and equipment hire services company, operating across the construction, infrastructure and industrial markets, today provides an update on the Group's trading performance for the year ended 31 March 2023.
Positive trading performance
The Group expects to report adjusted profit before tax1 for the year in-line with the Board's expectations.
The Group performed well during the year, with revenue2 up c.14% over FY2022. Revenue growth was underpinned by rate increases to counter inflationary cost pressures alongside a strong performance from the Services business.
Against the backdrop of the continuing challenging trading environment, the Group has experienced some softening of demand in recent weeks, although with a strong pipeline of new business the Group remains confident of future revenue growth.
where Lombard picked up 5.6% of shares??
We could do with a movement north from here.
Gla
Looks like interest is picking up after a long consolidation period.
Opportunity to pick up some cheap share on the bottom
Some nice chunky buys too .
Nice read and good to see the transformation still progressing https://www.thebusinessdesk.com/northwest/news/2110966-city-round-up-hss-hire-victorian-plumbing-eddisons-immotion-group
My buys are showing up as sells? It looks odd and back to front.
...but the underlying business is performing ok so the hire market is holding up. More from the SDY RNS:
"The Group [SDY] continues to perform well in the second half, with its revenue (excluding disposals) for the four months to 31 January 2023 up c.16% against the corresponding period in the prior year and apart from any effects of the asset loss described above, the Board continues to be confident in delivering underlying profit* in line with its expectations for the full year."
Speedy Hire reports £20m of its assets are missing. This is from today's SDY RNS:
"As at 31 March 2022, the reported net book value of the Group's hire equipment assets was £226.9m. The Company categorises hire equipment into two groups: those that are individually identifiable by a unique serial number to the asset register ("itemised assets", representing 78%, or £177.0m, of the total reported net book value), and other equipment such as scaffolding towers, fencing and non-mechanical plant which does not have a unique serial identifier and is not tracked on an individual asset basis ("non-itemised assets", representing 22%, or £49.9m, of the total reported net book value). The recently completed comprehensive count has covered both itemised and non-itemised assets. Whilst this count validated the previously disclosed net book value of itemised assets, it identified a deficiency in the value of non-itemised assets of c.£20.4m."
Hello, anyone here? No, thought not.
Don't know why I brought shares in this company. Never any action. Quite boring actually.
Had my credit via HL. Are you holding certificated stock? Rarity these days.
Has anyone received their Divi warrant/cheque as yet??
Bloody postal strike, will delay Divi arrival lol
A so-so report, not as optimistic as some here would have liked, so no upward pressure on the share price. But what I hate about the report is the liberal use of weasly management speak. Say it in plain English. It's not a technology roadmap; it's a change from physical stores to fulfilling customer order online. The ordinary builders and tradesmen who are the customers do not have a 'user journey' ; they are able to use the app more easily and more conveniently. And so on. To best inform customers why not do what the press does? Ditch the involved relative clauses. One idea per sentence and no sentence more than 11 words. In the days of the National Service Centre, mangement speak was used to cover a ginormous failure. After that debacle, the changed management paid off the debt and there was a period of clearer reporting. Now it's back to full on management speak. It makes me nervous that they want to hide underperformance going forward. Say it in clear for the benefit of both shareholders and customers.
All good here.
Divi reinstated.
Gla
They will be published at 7am tomorrow, per HSS website.
https://www.hsshiregroup.com/investor-relations/financial-calendar/
EBITA could be 4-4.5p per share!
These are due any day and should look very good in my opinion
I live in West Wales, and a company called, Parker Plant have decided to sell all their plant, and they had loads.
There are only going to keep steel containers & potraloo by all accounts
Was in a branch of Superdrug last week and could not help but notice the large portable air conditioning unit on hire from HSS. Wonder how many of these things have nationally been whirring away over the seemingly very hot summer?
iuo
Looks like some institutional sells, well below midpoint. What a terrible price that was.
They are dropping shares all over the market in anticipation of the recession. Not many holders in it for short term gains any more, only the committed are left
Again today two large sells at 1100 of 6 million shares! Why? Who? What is happening?
Cheers