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Speedy Hire shares tumble as firm sounds alarm on ‘worsening conditions’ Markets Speedy Hire shares tumbled on Thursday after the tools and equipment hire services company slashed its profit expectations and warned “conditions have worsened” in the market. The London-listed firm said it now expects pre-tax earnings of £90m in 2026, down from £97m the previous year. “Market conditions have worsened…with uncertainty around the UK Budget in [...]
Speedy Hire swings to loss amid depot closures Business Speedy Hire has slumped into the red as it grapples with a challenging economic backdrop and tax hikes announced in Chancellor Rachel Reeves’ Autumn Budget. The London-listed firm, an equipment hire specialist, swung to a pre-tax loss of £1.5m in the year ended 31 March, 2025, down from gains of £5.1m the prior 12 months. [...]
Speedy Hire accelerates depot closures after Reeves tax hikes Speedy Hire said it has accelerated the planned closures of several of its depots and restructured various support roles as it wrestles with the fallout from a raft of tax hikes. The London-listed company said the move had saved around £3.5m in costs over the year in what it described as a “challenging market backdrop.” [...]
Speedy Hire shares slump to all-time low after profit warning February 3, 2025 Shares in Speedy Hire have slumped to a new all-time low after it issued a profit warning, blaming an economic downturn affecting firms. The Newton-le-Willows company told the London Stock Exchange this morning that its recent trading had been impacted by a slowdown in demand so far in 2025. The tools and equipment hire business [...]
Speedy Hire bounces back after securing £25m deal with leading UK infrastructure provider June 20, 2024 The deal between Speedy Hire and Amey Group will bring in up to £25m per year for the firm once it mobilises during the second half of the financial calendar.
Speedy Hire profit tumbles as inflation bites June 19, 2024 Tool and machinery specialist Speedy Hire has reported a significant dip in profit amid cost inflation
Cost inflation and weak demand hurts Speedy Hire as construction sector struggles continue April 10, 2024 The group expects to announce its results for the financial year ended 31 March 2024 in mid-June.
Speedy Hire: Investor takes advantage of record low share price to increase stake February 7, 2024 An institutional investor has taken advantage of a sharp slump in Speedy Hire's share price to almost double its stake.
Speedy Hire warns on profits despite ‘resilient’ performance January 30, 2024 Speedy Hire has issued a profit warning despite it performing "resiliently in the face of cost inflation and macroeconomic uncertainty"