Member Info for whaddaukno

I’d love to see it. To get to 23 would be a decent improvement

From SDY trading statement on 2/4/2026

“The Group made significant strategic progress in FY2026 including a transformational commercial agreement with the Proservice Building Services Marketplace Plc group ("ProService"), with the integration continuing to progress as planned

SDY say progressing as planned whilst Proservice state their current situation in part “is due to a lower ramping up of the new arrangements with Speedy Hire”

Maybe a question on the planned investor call setting out the full year results. What % of offered orders are you converting,and what’s preventing that number being improved?

My guess, not enough physical stock coupled to not enough employees and vehicles to deliver it

Anyone have a view?

ProService Building Services Marketplace (LON: PRO), formerly HSS Hire, says 2025-26 revenues from continuing operations is expected to be £248m, which is lower than forecast. That is due to a lower ramping up of the new arrangements with Speedy Hire and the weak construction market.

Lot of hopes pinned on the first full year of this deals trading, by both parties. I wonder how many Proservice orders are currently being sent to Speedy, and what % we are physically satisfying, Vs turning away, due to no fleet or unable to physically deliver

Do you think SDY needs an outsider at the top? It seemed to work when Russell Down was at the helm. Too many of the decision makers have no experience of the business world outside Speedy

There’s no value in my talking this price down, as I’m also a reasonably sized shareholder. But I’m also realistic and well researched. Just talking to this company’s employees paints the true picture. I would encourage all their major shareholders to do the same, unaccompanied by senior suits to get a true feel. My view is that nothing changes here until there’s change at the top. Yes, we had the forecast strategic blah,but we’ve been getting that for at least the last 3 years. I’m looking forward to the capex forecast for next year to see how they intend to feed 50-55m of extra, annualised revenue. That’s before the costs of more lorries, vans and people to physically deliver that revenue adds to their cost base

They all have their day,apparently.

Alas sir, no. My membership here bestows upon me, equally as it does you, the ability to post my more than reasonably well researched thoughts, as well as my opinions

My posted thoughts however NEVER have,or will, become personal

You do of course have the ability to filter me, as I do you, but I won’t be. The reason for that is I maturely welcome all views and opinions on here, whether I agree with them or not.

We will both be right at some point, as we will both be wrong equally at some point, so let’s respect one another rather than resorting to insults

The board have to a hold a certain % of salary as shares according to last full year report. Notably the CEO doesn’t appear to hold any?

From 2025 annual report

Executive Directors are required to build up and maintain an in-employment shareholding worth at least 200% of base salary.

The CEO doesn’t seem to have purchased any since coming to power. Not a great vote of confidence IMO

ESG director,who has had a lot to day with Speedy’s green push has also left?

Partially correct. See RNS dated 30/1/24 and 3/2/25, both are trading statements encompassing April to January trading. No release this year, which is hardly surprising given the reported near 6m loss at the midway position .

Makes you wonder just how much the full year will be. Lots of blah about strategic process etc.

The word is that the HSS deal is a dog and they are running SDY ragged, for little to no profitable return. Yes it’s worth 55 m in turnover,but that in no way guarantees any profit

The numbers will tell- sub 18 on results day not unimaginable

I agree. The absence of a trading statement is worrying especially when linked to the CFO leaving early. Could be they found someone as good if not better quicker than they thought. This will be low to kid teens when the numbers come out. Heard today that they are also cutting back their sales team? Anyone else heard that?

I’d be amazed if this got that high. Strange that we’ve had no trading statement do you think?

AI schmAI

Speedy aren’t a real player in the heavy civils/infrastructure market, outside of tower lights and bowsers. No large plant such as sweepers/dozers/excavators/pumps etc. Their once famed survey equipment offering is a shell of its former self

All their big kit supply chain partners,now of course HSS partners, are Tier 1 supply to the larger infrastructure customers that still hire directly,so why would they pay a margin to get things from Speedy?

Where those contractors subcontract smaller work packages out SDY are going into battle with mainstream tool hire competitors and solid independents,who are currently faster to react and more agile in their approach and thinking

This last comment applies to all markets that SDY supply-look at their midsize customer segment turnover,it’s shrinking by their own admission and that’s where the big volumes of decent spending customers live

I would park any signs of this share being a recovery play,this business is suffering more than their competitors at present and you have to ask yourself why. Wait till full year figures come out to see the true picture

2 suppliers of what in the market Steve 17?

Also, where is our usual 10 month trading update it’s usually been posted by now? Were we waiting for VP’s release, which was as expected given the currently depressed markets they and SDY operate in

Set to close only on T212 currently

Again? When will the jam finally come?

I have a real concern that they are not set up operationally to take that level of business on by adopting just 300 HSS people. By most hire company metrics an additional 55m of revenue would need a significant number more than that just to allow them just to stand still and cope, let alone grow

So. Tomorrow's the day then?

Thoughts? Ideas?

Announcement expected this Thursday ref an SMR build on Anglesey

Fingers crossed!

HSS sorry,typo

A good report? In terms of what, excluding HDS news of course