Hire firm enjoys positive start to the year

HSS Hire

Hire firm HSS said it has enjoyed a positive start to the year.

Adjusted EBITDA growth at the Manchester firm was 18.6% and margins improved 1.6pp to 15.9%

There was revenue growth of 6.5%, with like-for-like rental and services revenue increasing 1.5% and 8.0% respectively.

HSS said trading was in line with expectations for the first seven weeks of Q2 19 and it expects full year EBITDA to be in line with market expectations

Steve Ashmore, chief executive of HSS Hire Group, said: “I am pleased to report a good start to the year with growth in revenue and profit which, with the disposal of UK Platforms, resulted in a significant reduction in leverage.

“As we set out in April the next phase of our strategy is focused on strengthening our customer proposition.

“We are pleased with the reaction to the recent launch of the customer app in our rental business and the transformation of our  OneCall Rehire business is proceeding to plan.

“While the broader economic outlook remains uncertain, our leaner operating model, excellent market positions and clear strategy leave us well placed to continue to grow share in any market.”

Click here to sign up to receive our new South West business news...
Close