31.03.2017

Speedy up 7%

Speedy issued a trading update today on its performance for the year ending 31 March.

Group revenues, excluding disposals are expected to be around seven percent higher than last year, while pre-tax profits are expected to be in line with expectations and “well ahead of last year”. Speedy has also confirmed that it has substantial reduced its rental fleet, resulting in an improvement in Return on Capital Employed. Net debt at is expected to be less than £80 million, significantly lower than last year, even after funding the Lloyds British acquisition.

The company also announced that David Shearer has been appointed as a member of the Remuneration Committee, while chairman Jan Astrand has stepped down from both the Audit and Remuneration Committees.