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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.