Speedy Hire Plc (SDY.L), a British tool and equipment hire services company, on Tuesday said that it expects its annual profit to be below its previous expectations, citing weakness in some of its end markets and seasonal product lines, and some delays in mobilization of significant contract wins.
Speedy said that its acquisition of Green Power Hire Limited has continued to perform in line with its business plan and since purchase it has bought further units to enlarge its battery storage unit fleet.
The company noted that as anticipated, supply chain benefits arising from the implementation of Velocity are being seen in the second half of the full year and will continue to deliver benefits into future years.
For comments and feedback: editorial@rttnews.com