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Seems to going down the same route.
This will get far worse before it gets better, the top 2 have less than 8 months services between them and next to zero knowledge of the hire industry you can glitz the "Service Company" as much as you like but the key factor will alway be hire......... I can see a total overview of UK operation which will inevitably mean depot closures and sale of certain offerings like Training and Fuel Management. Lets not forget how much cash the Warrington MSC haemorrhaged when that first opened ( nearly 1mil a month) I expect with the size of Tamworth this figure could in effect be double that!
It's definitely NOT the sales guys that are the problem - they are not out of control as you put it and are not allowed to 'over discount' due to every deal (rightly so) being scrutinised by the commercial management Any deal that submitted that is not deemed commercially viable to the company is knocked back It's the operational side of the business - lack of kit and supply to the customer that Speedy are struggling with - read the statement
2 other RNS's this pm. Have the directors purchased shares today ? I agree that this could be a good buy ...
So new management, new strategy, still a great sector and if speedy can recalibrate this will fly again, great time to buy
Spot on sales guys are a joke over discounted every time they win something out of control senior management no idea how to control thse guys
So another cheif departs...more reshuffle of the incompetent pack. We will only move forward like any business when the brutal facts are addresed and not ignored. It doesn't need another two bit strategy just chop the deadwood and get back to basics which must be to difficult to realise for such highly educated folk. £600000 would soften anyones fall.
..they too fell heavily this week !?..What's happening in this sector ?..
Well another important time in the Speedy family, it looks like this company will never learn. I use to be a happy, Conscientious and passionate employee but over the years was pushed to look for new employment through Speedy's worse failure, which is middle management. Over the years this company has had good senior group people with very passionate and viable ideals but these have all been failed by the middle senior management such as area MD,s and sales directors. Yes there are always good ones but where you need the strong and honest management, such as large cities and affluent sectors there is weak management and NOT strong leaders. Another failure in this company is the parting of what made this company in the early years, customer relationships and retention. In my years of lower management I fought many decisions which weakened local relationships and just concentrated on the top 100 construction based companies, i.e putting most of resources (kit,personell etc) to them and strangling the local businesses. Speedy can get back to where they should be with a big sweep of the dinosaur management and go back concentrating on building relationships with localised customers which would give them the foundations to work up from.
For a competitor I have voiced my concerns on a number of occasions to be ****ged off my people who allegedly knew better. I'm not gloating but sometimes people should listen To people from within the industry instead of having a go!!
Simply not enough money spent on kit, never listened to the people on the front line, hiring asset desposal managers who get kpi'd on the amount they despose of despite the fact that 50%/60% of kit was needed in the depot network
They have had two ineffective CEOs and accounting fraud too..hopeless....sems to me they need a new Chairman too....having the CFO take on the CEO role isnt a good sign....seeing as the Chairman should know exactly what his CEO is doing the chairman should oversee it...if the CFO lets the costs get out of hand with poor revenues ,they are sunk
Where's big fat noelypoly now!!! Company has been run by bean counters for far to long , and them market analysts have the vision of Stevie Wonder!! I expect it'll be 18-24 months of severe decline now with some depot closures and that precious number 1 spot will be lost to A Plant.
I heard the news this morning but didnt expect such a massive drop!
speedy will get back up may take a little time{:-))
Seems a bit overdone...
Results warning today - CEO to step down Expect a drop
A lot of good people in this firm,especially in the north .Dealt with the Huddersfield depot for years,always a pleasure:)
This one is due to rise this week. Big deal with major UK construction group plus iminent good interim results.
Good morning all speedy investers{:-))
Good morning all speedy investers{:-))
Good morning all speedy investers{:-))
Great day more tomorrow i hope{:-))
Good morning all speedy investers{:-))
Good morning all speedy investers{:-)) normal rns for agm