tiprankstipranks
Company Announcements

Speedy Hire Navigates Economic Uncertainty with Strategic Focus

Story Highlights
Speedy Hire Navigates Economic Uncertainty with Strategic Focus

Discover the Best Stocks and Maximize Your Portfolio:

Speedy Hire ( (GB:SDY) ) has issued an update.

Speedy Hire reported a promising start to the fiscal year with a 5% increase in hire revenue for December 2024. However, an economic downturn and delays in CP7 rail works have slowed post-December recovery, impacting the final quarter’s trading performance. Despite challenges, including a downturn in its Kazakhstan joint venture and increased net debt, the company remains focused on its Velocity strategy to manage costs and investment decisions. Although facing macroeconomic uncertainties, Speedy Hire sees growth opportunities from government infrastructure projects and anticipates a recovery in FY2026.

More about Speedy Hire

Speedy Hire, established in 1977, is the UK’s leading provider of tools and equipment hire services, serving a diverse range of customers across construction, infrastructure, industrial, and support services markets. The company also offers complementary support services like training, asset management, and compliance services. Speedy Hire operates from 144 service centers in the UK and Ireland, and maintains a joint venture in Kazakhstan.

YTD Price Performance: -1.79%

Average Trading Volume: 798,225

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: £127M

Find detailed analytics on SDY stock on TipRanks’ Stock Analysis page.

Related Articles
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1