23.05.2010

HSS jumps 11%

UK based rental company HSS, has reported first quarter revenues up 11 percent to almost £41.9 million. Earnings before depreciation, tax and interest (EBITDA) was £9.3 million a 26 percent increase on the same period last year and well above expectations.

During the period the company opened two new superstores, one in Oxford and one in Brighton. It also strengthened its core training business though the acquisition of Hydrex Training earlier this month.

Chief executive Chris Davies said: “We are pleased with our results for the 2010 first quarter as they clearly demonstrate the positive effects of our strategies. We are encouraged that growth is continuing across a range of markets and products. We remain focused on generating a strong revenue and cash performance, managing our portfolio and growing our business. Having demonstrated both increased profitability and strong growth HSS is well placed for continued success as the market improves over the months and years ahead.”