The board of construction company Speedy Hire has announced it was confident about future performance following a strong set of final results.
In the year ended 31 March 2022, the group’s revenue went up 16.3 per cent to £381.7m, while its adjusted profit before tax soared to £30.1m, 72 per cent up on the previous year.
Following the positive results, Speedy Hire’s adjusted earnings per share went up by 58.2 per cent, to 4.24p.
“I am pleased to report results that reflect the strong performance we have achieved this year,” said chief executive Russell Down.
“This performance is testament to the hard work and dedication of all my colleagues.”
Looking ahead, the board said it was confident about future performance as Speedy Hire reported an encouraging start to the new financial year, with underlying revenue up by around 8 per cent.
“We have made an encouraging start to FY2023 with volume growth and price increases more than offsetting cost pressures,” Down added.
“Against a backdrop of positive end-markets and our unique leading service and ESG customer propositions, the board remains confident that we will meet its FY2023 expectations.”