Speedy Hire - Opportunity knocks

The new ProService Agreement is the dominant feature of year-to-date performance, driving an uplift in revenue and profitability despite subdued market conditions. Velocity implementation continues, moving from enabling to growth phases. While higher interest costs reduce FY26 estimates, the ProService deal materially enhances expected earnings thereafter, and we have raised our fair value to 61p per share to reflect this. ProService acts as a strategy accelerator. As the third and final year of Speedy’s digitally-led Velocity enabling phase progresses, complementary workstreams are coming to fruition alongside refinements to the business model, such as outsourcing fuel services and sharpening TIC focus. The ProService Agreement is a wel...