Speedy unveils strong results for first six months of the year
10:32 24 Nov 2004
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Speedy Hire has today (Wednesday) reported a strong set of results for the first half of this year.
Figures for the six months ended 30 September show pre-tax profit up 21.4% to £11m from £9m in the same period last year.
Turnover for the group also rose to £98.9m from £79.8m in 2003.
Operating profit, before goodwill, now stands at £13.7m compared to £11m in the first six months of last year.
Business has been boosted by Speedy’s acquisition of tool hire business Multi Group for £7.65m in August which has extended the group’s coverage in
Following the acquisition the group now runs 10 additional depots and has taken on 200 new staff.
Speedy said the outlook in the tool hire market looked stable and remained confident of reporting further progress in its drive to improve the business through organic growth.