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2 Apr 2026 07:00
Speedy Hire Plc
("Speedy", "the Company" or "the Group")
2 April 2026
Trading Update
Speedy, the UK's leading tools and equipment hire services company, operating across the construction, infrastructure and industrial markets, provides the following trading update for the year to 31 March 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 and the agreement remaining on track to generate £50-55m of revenue and be significantly earnings accretive in its first full year of trading. The Group also concluded the 'Enable' phase of its Velocity strategy re-positioning the business for future growth.
At our interim results on 26 November 2025 we anticipated a continuation of subdued market conditions for the remainder of FY2026. Market conditions have worsened through Q4 with uncertainty around the UK Budget in November and the recent geopolitical events in the Middle East. The Group has also seen certain customer led delays, affecting hire and service revenues, which are now expected to impact positively in the near term. As a result the Board now expects FY2026 EBITDA to be c.£90m.
Net debt at 31 March 2026 is expected to be c.£159m, including the £35m invested in ProService. The Group expects to see meaningful deleverage in FY2027 as a result of strong operating cash flow.
Notwithstanding our caution around ongoing economic and geopolitical events, the Board remains confident of its outlook for FY2027 and beyond.
The Group will announce its Full Year results on 17 June 2026.
Enquiries:
Speedy Hire Plc Tel: 01942 720 000
Dan Evans, Chief Executive
Paul Rayner, Chief Financial Officer
Teneo: Tel: 020 7427 5494
Giles Kernick
Inside Information: This announcement contains inside information for the purposes of the Market Abuse Regulation (Regulation (EU) No. 596/2014) as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018.
Notes to Editors: Founded in 1977, Speedy Hire is the UK's leading provider of tools and equipment hire services to a wide range of customers in the construction, infrastructure, industrial, and support services markets, as well as to local trade, and retail. The Group provides complementary support services through the provision of training, asset management and compliance services. Speedy is certified nationally to ISO50001, ISO9001, ISO14001, ISO17020*, ISO27001 and ISO45001. The Group operates from 129 Service Centres and on-site locations across the UK and Ireland and through a joint venture in Kazakhstan.
*Lloyds British National Contracts only
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