Speedy Hire PLC - St Helens, England-based tools and equipment hire company - Says Chief Financial Officer James Bunn resigns to pursue "an opportunity in an unrelated sector". He will step down from the board on Tuesday. Hires an external head hunter to find Bunn's successor. Speedy Hire says Paul Rayner will assume the role of interim CFO in the intervening period, for up to 12 months. Says Rayner has over 25 years' experience in senior financial roles. These include interim and permanent roles respectively on the main boards of personal protection company Avon Protection PLC and Romsey, Hampshire-based defence technology manufacturer Chemring Group PLC.
Additionally, Speedy Hire confirms that trading in the first half of the financial year ended on September 30 has been in line with its expectations. It intends to report its interim results on November 15.
For the financial year ended on March 31, the firm had reported revenue up 16% to GBP386.8 million, compared with GBP332.3 million a year ago, with pretax profit more than doubling to GBP29.1 million from GBP8.3 million.
Current stock price: 39.05 pence, up 1.4% around Thursday midday in London.
12-month change: down 38%
By Xindi Wei; xindiwei@alliancenews.com
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Speedy Hire (SDY)
Avon Protection (AVON)
Chemring (CHG)