One in, one out on Speedy’s committee

UK rental company Speedy Hire has appointed David Shearer as a member of its remuneration committee.

Amid Mr Shearer’s appointment, Speedy’s Jan Astrand has stepped down from both the audit and remuneration committees.

The company also said it would announce its full-year results on 16 May, adding it expected revenues to be 7% up year-on-year. Adjusted profit before tax is also expected to be up year-on-year, it said, in line with its expectations announced in its last trading update in February.

Net debt is also expected to be below £80 million (€93.85 million), which it said would be significantly down from 2015, following its funding for the Lloyds British acquisition.

It added that its hire fleet had been substantially reduced, resulting in an improvement in return on capital employed.