Speedy Hire PLC - Newton-le-Willows-based tools and equipment hire - Says it delivers strong set of interim results through strength of offering, efficient operational delivery and supportive market backdrop. For six months to September 30, revenue rises 28% to GBP188.6 million from GBP147.0 million last year and swings to pretax profit of GBP14.3 million from GBP400,000 loss. Speedy Hire declares 0.75 pence per share interim dividend, versus none in prior year. Looking ahead, financial 2022 adjusted pretax profit expected to be ahead of current market expectations of GBP29.2 million. "During 2022 the board will consider returns to shareholders of any capital in excess of the group's needs consistent with the group's capital allocation policy," the company adds.
Current stock price: 68.30, up 7.1% on Wednesday
Year-to-date change: down 4.3%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Speedy Hire (SDY)