11.02.2015

Speedy on track – up 10%

UK based rental company Speedy has issued a third quarter trading update for the period to the end of December.

The statement says that revenues for the first nine months of its financial year increased by 9.9 percent, compared to the 2013 and that it expects the year to be as forecast. The statement also said:

“The network optimisation programme is on track to be completed ahead of schedule by the end of the financial year with the Group's new National Distribution Centre in Tamworth now operational. The new centre and eight UK Multi-Service Centres will serve as hubs within the group's national network, delivering greater efficiencies in distribution, engineering and repair and asset utilisation”.

“In the Middle East good progress has been made on the accelerated restructuring of the business and withdrawal from general hire. This has been done to stem losses and build value in the remaining Oil and Gas services business where the mobilisation of major contracts is now all but complete”.
“Despite a challenging year in the Middle East, ongoing strong performance of the Group in the UK gives the board confidence that results for the full year ending 31 March 2015 will be in line with its expectations”.