Speedy Hire (SDY)

Sector:

Support

Index:

FTSE Small Cap

24.80p
   
  • Change Today:
    -0.20p
  • 52 Week High: 37.80
  • 52 Week Low: 23.40
  • Currency: UK Pounds
  • Shares Issued: 461.84m
  • Volume: 246,674
  • Market Cap: £114.54m
  • RiskGrade: 214

Speedy Hire H1 pre-tax profits fall as costs increase

By Iain Gilbert

Date: Tuesday 15 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Tools and equipment hire group Speedy Hire said on Tuesday that interim pre-tax profits had fallen due to higher costs throughout the half.

Speedy said underlying revenues were up 13.8% at £212.4m in the first half of its trading year but still delivered a 7.7% drop in statutory pre-tax profits to £13.2m

The London-listed group said the drop in profits was partly due to its £30.5m investment into its hire fleet and inflation in its cost base. However, Speedy added that it was still confident in its ability to deliver a full-year performance in line with internal expectations.

On a divisional basis, hire revenue was up 5.5% year-on-year, and services revenue was 29% higher, driven by fuel and energy sales and a solid performance from its re-hire business.

Chief executive Dan Evans said: "Revenue growth remained strong, with increased strategic investment in growth initiatives including retail and trade, marketing and ESG.

"Revenue growth is continuing with new contract wins, the effect of actions taken on price and a healthy pipeline of customer activity which gives confidence for further growth in the second half. Whilst the macroeconomic outlook is uncertain and inflationary pressures remain high, I take over as chief executive at a time when our business is performing well, is resilient and positioned to manage changes in market conditions. We remain confident of delivering results in line with the board's expectation for the full year."

As of 0925 GMT, Speedy Hire shares were down 6.34% at 40.51p.







Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Speedy Hire Market Data

Currency UK Pounds
Share Price 24.80p
Change Today -0.20p
% Change -0.80 %
52 Week High 37.80
52 Week Low 23.40
Volume 246,674
Shares Issued 461.84m
Market Cap £114.54m
RiskGrade 214

Speedy Hire Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
50.93% above the market average50.93% above the market average50.93% above the market average50.93% above the market average50.93% above the market average
71.11% above the sector average71.11% above the sector average71.11% above the sector average71.11% above the sector average71.11% above the sector average
Price Trend
63.66% below the market average63.66% below the market average63.66% below the market average63.66% below the market average63.66% below the market average
72.28% below the sector average72.28% below the sector average72.28% below the sector average72.28% below the sector average72.28% below the sector average
Income
85.61% above the market average85.61% above the market average85.61% above the market average85.61% above the market average85.61% above the market average
75.38% above the sector average75.38% above the sector average75.38% above the sector average75.38% above the sector average75.38% above the sector average
Growth
12.62% below the market average12.62% below the market average12.62% below the market average12.62% below the market average12.62% below the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Speedy Hire Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Dec-23 10-Aug-23
Paid 19-Jan-24 22-Sep-23
Amount 0.80p 1.80p

Trades for 28-Mar-2024

Time Volume / Share Price
10:27 72 @ 24.50p
10:23 2,096 @ 24.80p
10:22 2,021 @ 24.80p
10:22 5,883 @ 24.80p
10:18 879 @ 25.00p

Speedy Hire Key Personnel

CEO Dan Evans
CFO Paul A Rayner

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