Responsive Image Banner

SMEs drive growth in Speedy revenue

Premium Content

11 July 2019

UK-based tools and equipment rental firm Speedy Hire has announced a 5.9% rise in revenues for the first quarter of the current financial year, compared to last year.

No caption available

A key driver of this growth has been demand from SME (small- to medium-sized enterprise) customers, with revenues from them jumping by 27.5%. The positive development was also helped by 1.2 and 13.4% increases in hire and services revenues respectively.

The company’s asset utilisation rates were up 56.8% on a rolling 12 month basis, and net debt came to £91.6 million (€101 million), largely unchanged from the end of the last financial year.

Return on capital employed (ROCE) for the 12 months to 30 June 2019 was 12.1%, compared to 11.8% at the same time last year.

Speedy Hire expects its full year results to be in line with the board’s expectations.

STAY CONNECTED


Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

Latest News
Caterpillar updates articulated dump trucks with new engines and technology
Caterpillar has overhauled its mid-size articulated dump truck range, introducing new engines and a suite of technology
Trime to launch fuel cell lighting tower
New tower to be available in early 2026
Almac launches spider rental range
New BA-Line has series of features suited to the rental market 
CONNECT WITH THE TEAM
Murray Pollok Editor, International Rental News Tel: +44 (0)1505 850043 E-mail: [email protected]
Lucy Barnard Editor, Rental Briefing Tel: +44 (0)1892 786 241 E-mail: [email protected]
Ollie Hodges Vice President, Sales Tel: +44 (0)1892 786253 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA
International Rental News newsletter

Rental Intelligence — When You Need It, How You Need It

Stay ahead with industry trends, expert insights and global news — in your inbox.

Sign me up