Speedy Hire improves in "challenging market"

Speedy Hire said trading in the period from 1 October 2011 to 14 February 2012 had been in line with its expectations, with underlying revenues for the third quarter (October to December) up 7.6% compared to the previous year and further improvements in profitability.

The company said it was maintaining its focus on regulated industries and private sector investment in water, waste, energy and transport.

In its interim management statement, it said; "Speedy is making steady progress despite the challenging market conditions and uncertain economic outlook and the board remains confident of meeting its expectations for the financial year."

The UK's largest renter said it will have opened a further three ‘superstores' by the end of February, as part of a "network reconfiguration in order to deliver improvements in customer service, product availability and operational efficiency".