Positive results for Speedy and Vp

Two of the UK's leading plant and tool hire companies have reported strong trading conditions in the UK, despite concerns over international finance.

Speedy Hire says its third-quarter revenue rose by 43%, while the group's revenue growth for the nine months to 31 December 2007 stood at 39%.

Vp, which includes companies such as UK Forks, Groundforce, Hire Station and Torrent Trackside, says business has remained positive across a wide range of business sectors, with activity levels building up satisfactorily since Christmas.

Both companies have been acquisitive in the past year, with Vp integrating USS and PTA into its Groundforce division, and Able Safety into the Hire Station business. Speedy Hire reports that the integration of the Hewden Tools business is now complete, with all acquired depots transferred onto Speedy's office systems.

The two hire businesses are both predicting that 2008 will see further significant growth.