Hire group on track to maintain positive momentum

HSS Hire Group, the Manchester-based tool and equipment hire business, has continued to see positive trading momentum in the first five months of its 2023 fiscal year, it said ahead of its annual general meeting later today (June 21).

It said it remains on track to deliver full year adjusted EBITA in line with market expectations.

HSS ProService’s strategy implementation continues to progress well. Based on the early positive results of these strategic initiatives, overhead investment will be increased to £6.5m in 2023.

A further update on the group’s strategy and performance will be provided at HSS’s half year results in September.

Chief executive, Steve Ashmore, said: “We are very pleased with the group’s progress in 2023, both in terms of financial performance and the implementation of our strategy.

“While we are mindful of recent commentary regarding a slowdown in certain sectors, we are confident that our unique technology-driven proposition and flexible cost base will enable us to manage any headwinds and deliver on market expectations for 2023.”