HSS expansion goes on in face of Q2 dip

SHARES in HSS Hire slumped by 25% as it  revealed a disappointing second quarter trading performance.

The company which has the majority of its workforce based at Trafford Park in Manchester, said some of its major clients “paused” their activity during the first half.

Despite the setback the company said its expansion would countinue and it would open 22 more branches this year as it remains on course for a planned opening target of 50 in 2015.

Six locations are already in development for 2016 and HSS has announced the opening of a 43,000 sq ft customer distribution facility in Reading to boost capacity in the Thames Valley and West London.

HSS said: “The group’s trading performance through Q2 was marginally below expectations, primarily impacted by weakness in key accounts customer activity across a number of sectors particularly in April and May, as well as reduced demand for cooling equipment during the period.

“In June, we have seen customer activity begin to return to more normalised levels, with order books building into the second half of the year.”