Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Speedy Hire Q1 Revenue Edges Down 0.8%; Trading In Line With Management View

Speedy Hire Plc. (SDY.L) said that despite continued challenges in the UK economy, performance in the first quarter was satisfactory. At a Group level, revenue for the three months to 30 June 2013 decreased by 0.8% on the same period last year.

The Group said it is trading in line with management expectations for the full year and the Board remains confident that it is well positioned for the future.

In the UK and Ireland division, which constitutes 93% of Group revenues, the continued strategy of developing the services revenue, combined with focus on the growth sectors of water, waste, energy and transport, has underpinned a resilient performance considering the difficulties that remain in the general construction sector.

The International division has seen an encouraging start to the year with revenues in the first quarter 30% ahead of the prior year period. This has been driven by continued growth in oil and gas projects and the ZADCO project progressing in line with our expectations.

The company noted that it has a strong pipeline of further opportunities in its target sectors of oil and gas and government-funded infrastructure which provide the International division with a good platform from which to make further progress in fiscal 2014 and beyond.

The company noted that it will issue its Interim Results for the 6 months ended 30 September 2013 on 12 November 2013 and will issue a Trading Update on 17 October 2013.

Register
To receive FREE breaking news email alerts for Speedy Hire Plc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy. FCA US, until recently known as Chrysler, said Friday it is recalling 257,000 Dodge Ram pickups. The auto maker says the rear axle pinion nut on certain model year 2005 Dodge Ram 1500 trucks may loosen due to an undersized spline on the pinion gear. If the pinion nut loosens, the rear axle may... This medical device company has a very impressive track record of growing business over the past decade. increasing sales from $490.2 million in 2004 to $1.72 billion this year. The Silicone Hydrogel daily disposable lens portfolio constitutes a major avenue for growth.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.