HSS Hire Group (HSS)

Sector:

Support

Index:

FTSE AIM All-Share

 12.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 17.25
  • 52 Week Low: 11.70
  • Currency: UK Pounds
  • Shares Issued: 704.99m
  • Volume: 627,230
  • Market Cap: 84.60m
  • RiskGrade: 328

HSS Hire successfully refinances, interest costs 'materially reduced'

By Iain Gilbert

Date: Wednesday 10 Nov 2021

LONDON (ShareCast) - (Sharecast News) - Tool and equipment supplier HSS Hire Group has entered into a new term loan facility of £70.0m and a revolving credit facility of £25.0m following a successful campaign to refinance its existing corporate debt.

HSS Hire said on Wednesday that the new facilities would be provided by HSBC Bank and National Westminster Bank and will mature in November 2025, with the opportunity to extend by a further year.

The facilities were said to be at interest rates between 275 basis points and 350 basis points above the sterling overnight interbank rate, dependent upon the net debt leverage ratio of the group.

HSS noted that in the year ended 26 December 2020, its senior finance facility interest charge was £16.3m.

Alongside the "successful change in operating model and equity placing in late 2020", the AIM-listed firm said the refinancing would "materially reduce" its ongoing annual interest charge to approximately £3.0m, driving "a significant increase| in earnings per share.

Chief executive Steve Ashmore said: "This new refinancing package is another significant development for HSS, adding to the very positive strategic and operational progress that we have delivered over the last few years.

"It materially reduces our interest costs and improves both our EPS and free cash flow. With a much stronger financial platform and continued trading momentum across our business, HSS is now well-positioned to deliver our next exciting phase of growth."

As of 0925 GMT, HSS Hire shares were up 5.67% at 18.74p.

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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.

 

HSS Hire Group Market Data

Currency UK Pounds
Share Price 12.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 17.25
52 Week Low 11.70
Volume 627,230
Shares Issued 704.99m
Market Cap 84.60m
RiskGrade 328

HSS Hire Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
97.90% above the market average97.90% above the market average97.90% above the market average97.90% above the market average97.90% above the market average
98.04% above the sector average98.04% above the sector average98.04% above the sector average98.04% above the sector average98.04% above the sector average
Price Trend
41.07% below the market average41.07% below the market average41.07% below the market average41.07% below the market average41.07% below the market average
44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average
Income
12.76% above the market average12.76% above the market average12.76% above the market average12.76% above the market average12.76% above the market average
46.27% above the sector average46.27% above the sector average46.27% above the sector average46.27% above the sector average46.27% above the sector average
Growth
20.88% below the market average20.88% below the market average20.88% below the market average20.88% below the market average20.88% below the market average
16.19% below the sector average16.19% below the sector average16.19% below the sector average16.19% below the sector average16.19% below the sector average

What The Brokers Say

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

HSS Hire Group Dividends

  Latest Previous
  Interim Final
Ex-Div 06-Oct-22 n/a
Paid 02-Nov-22 n/a
Amount 0.17p 0.000p

Trades for 24-Mar-2023

Time Volume / Share Price
14:41 3,669 @ 12.03p
14:28 8,292 @ 12.00p
14:28 3,575 @ 12.00p
14:28 3,814 @ 12.00p
14:24 4,695 @ 12.00p

HSS Hire Group Key Personnel

CFO Paul Quested
CEO Steve Ashmore

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