(Alliance News) - Speedy Hire PLC on Thursday reported mid-single digit revenue growth in the first half of its current financial year and maintained its annual forecasts.
The tools and equipment hire company its revenue for the six months to the end of September, pre-disposals, increased by 6% on the prior year.
Hire and services revenue grew by 1% and 13%, respectively. Revenue from small and medium-sized enterprises customers continued to grow strongly, up by more than 25% in the first half compared to prior year, Speedy Hire highlighted.
The company also noted that a number of contract wins and extensions have been secured in the period. As a consequence, Speedy Hire said it anticipates the second half of its current financial year to be stronger than the first half.
Speedy Hire said it expects adjusted pretax profit for the full year to be in line with expectations.
The company said it will publish its half-year results on November 13.
Speedy Hire shares were trading 2.7% higher in London on Thursday at 53.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Speedy Hire (SDY)