Speedy creates new specialist rental business

Speedy Hire has launched a new specialist rental business, Temporary Site Solutions (TSS), offering products such as fencing, traffic control, site security, ground protection and temporary trackways.

The UK rental company said the launch was part of its focus on growing its specialty offering as part of its recently launched ‘Velocity’ business plan.

It said it had created the division “having listened to what our customers would like to see additionally provided by Speedy Hire.”

In addition, Speedy said it would this year launch a new customer website platform, using technology from Optimizely, who Speedy described as a leading supplier of AI content management systems. It said the platform would “revolutionise our digital offering and aim to drive significant percentage increases in online revenue.”

Another AI-related project is its work with PeakAI to help with inventory forecasting and dynamic pricing

News of these initiatives came as Speedy announced its full-year results, with revenues for the year to 31 March 2025 down 1.2% to £416.6 million, with EBITDA profits flat at £97.1 million.

Speedy said business in the UK and Ireland from its large, national customers remained flat, with pricing increases offsetting a decline in volumes. Rental revenues overall increased by 0.6% year-on-year, driven by increased and recovering revenues from its regional customers.

Sales at its trade and retail business - which includes its partnership with B&Q DIY stores and online - improved, said the company, although “behind our initial expectations”. That business still represents just 2% of total group revenues, but Speedy said it hoped to expand this and had signed a new agreement with an unnamed “leading UK brand in the trade space”.

Dan Evans, Speedy’s chief executive, said; “Despite the macro-economic challenges, we have remained committed to, and in parts accelerated, the implementation of our Velocity strategy during its ‘Enable’ phase, which is setting the foundation for growth opportunities for the benefit of our customers and people, whilst maintaining shareholder returns.”

He said the company was well-positioned to capitalise on the recovery of its end markets; “We anticipate seeing the benefit from a promising pipeline of growth opportunities with new and existing customers, alongside increased commitment and clarity on government spending.”

The company said during 2024/25 it had faced delays in government spending across key sectors and projects.