HSS revenue growth accelerates in 2nd quarter

HSS Hire Service Group (HSS) has maintained its good first quarter performance with second quarter revenues up 15% to £40 million compared to the same quarter a year ago.

The company reported EDITDA profits of £8.4 million for the second quarter, up 29% on the previous year. HSS described the performance as resilient in difficult market conditions.

HSS said its growth was supported by an "accelerated" hire fleet investment programme, more key account wins (including BAA at Heathrow Airport) and "strong growth" at HSS Training.

Chris Davies, chief executive of HSS Hire, said; "These results demonstrate a resilient performance in the face of difficult market conditions and are a testament to the strength of the Group and the people who work within it.

"Our investment in market leading systems is helping drive efficiencies through the business and the diversity of sectors that we serve help insulate us from the trends of any particular industry sector."