Speedy Hire sees Q3 growth at home and abroad

TOOL and equipment specialist Speedy Hire has reported continued progress for trading in its third quarter.

The Newton-le-Willows-based company said it has seen solid growth in the UK and Ireland, and a surge in revenues overseas between October 1 and February 12.

In the UK & Ireland, Q3 revenue was up 2% against the same period in the prior year, a year to date improvement of 2.2%.  

In international – Speedy is particularly active in the Middle East – revenue were up 37%. On a year to date basis, sales are ahead 63%.  

The group, which has nearly 270 depots, said both margins and returns had continued to improve during the third quarter.

It added: “Speedy’s consistent strategy, market positioning and strong market share in key sectors continues to underpin the on-going progress being made by the group.

“Performance in Q4 to date enables the board to reiterate its confidence in meeting its expectations for the full financial year.”