Has Speedy hire turned the corner?
It's looking interesting. Any thoughts?
Takeover time?

Year End Trading Update - Delivering on a Consistent Strategy

Speedy Hire Plc, the UK's largest provider of tools and equipment for hire and associated services, with a growing presence supporting its customers in the Middle East, is today releasing a trading update in advance of the publication of its preliminary results for the year ended 31 March 2013, on 15 May 2013.

Trading

The Board's strategy remains focused on generating high quality, secure, long-term and transparent earnings across the Group. During the financial year ended 31 March 2013, Speedy strengthened its position as the market leader in rental services for large volume users and notably secured significant new contract wins with National Grid, in the UK, and ZADCO, in the Middle East. In addition to the quality and visibility of the revenue secured, the new contracts involve the provision of end-to-end managed services as opposed to purely transactional volume hire.

Underlying* Group revenues in the fourth quarter to 31 March were up 0.2% against the prior year (UK&I down 2.2%, International up 55%), resulting in a full year underlying* revenue increase of 3.7% (UK&I up 1.1%, International up 61%).

Within the UK market environment, which remains challenging, the Group has continued to target specific sectors and customers that generate profitable work at attractive margins for the Group, as opposed to solely pursuing top line growth. Coupled with a sustained focus on self-help measures, further progress has been made in reconfiguring the depot network and improvements in operational efficiency. As such, we expect to report PBT marginally ahead of the Board's previous expectations for the year ended 31 March 2013.

Financial position

Speedy's continued investment in its fleet has allowed it to support major customers in important long-term contracts that deliver visible revenues whilst maintaining its position as the market leader in terms of the quality and breadth of its product offering.

Net investment in hire fleet during the year was approximately £39m which has continued to be funded through cash generation and a disciplined approach to working capital. Net debt at 31 March 2013 was £72.4m (31 March 2012: £76.3m).

Outlook

Although we retain an element of caution regarding likely market conditions in the financial year to 31 March 2014, the Board remains confident of the Group making further progress and being well placed to take advantage of improvements in trading conditions as and when they arise.

*excluding the disposed accommodation business and before planned disposals of hire fleet

Gone long here. A lot of BUY volume going into stock, results middle of next week chart still in uptrend SP hugging 50 day ema.

A lot of BUY volume going into
this one today, prelims MAY 15th
next week wednesday.

Brokers seem bullish on the stock....

Date Company Name Broker Rec. Price Old target price New target price Notes

17 Apr 13 Speedy Hire PLC Canaccord Genuity Buy 47.63 55.00 55.00 Reiterates
17 Apr 13 Speedy Hire PLC Shore Capital Buy 47.63 - - Retains
17 Apr 13 Speedy Hire PLC Investec Buy 47.63 65.00 65.00 Reiterates
04 Apr 13 Speedy Hire PLC Goldman Sachs Neutral 47.63 39.00 50.00 Retains

BREAKOUT.......

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Excelent results......

Solid outlook......

Outlook



Our strategy and actions have been instrumental in generating this year's momentum and have laid the foundations for future growth. Given the uncertainty in the economy we will continue with our disciplined approach to investment and the cost base to ensure that we are well placed for the future.



Our market-leading position and strong cash flow have positioned the Group to take full advantage of any market upturn and although there is still uncertainty in the economy, and the UK construction sector in particular, we are confident that the actions we have taken have increased our resilience and given us a solid platform upon which to build.

BRIEF-Speedy Hire - FY adjusted pretax profit up 35.5 pct to 16.8 mln stg15 May 2013 - 07:20

LONDON, May 15 (Reuters) - Speedy Hire PLC : * 35.5 pct increase in adjusted pretax profit to 16.8 mln stg (2012: 12.4 mln stg) * FY revenue rose 4.3 percent to 340.4 million STG * Source text ID: [ID:nRSbPLpjN] ((London Equities Newsroom; +44 20 7542 7717)) ((For more news, please click here [SDY.L]))

Just bought a few of these - great results last week and a promising outlook.

Building up some steam here. Investec target price of 65p looks to be achieveable soon.

Mind the gap!

Needs to hold this latest move up now, then 75p is the next target.

Stonker of a TA position building up here.

Not far now to go to that gap outlined on
the chart.

Once we get through the intiasl resistance
120p SP possible and in Quick Time....

Looking good. 0,31p divi xd 12 June.The yield may not
be impressive at the moment but the cover at 3.25 is - not bad.
I remember this one from its Allen days. Did well out of it.
Good time to return, I think.

Yep spot on.

Plenty of talk of M&A activity in this sector world wide.

Some big buys went through at 9.45am.

Another 1million buy just after mid-day.

Yep where are they all coming from.

Some on twitter asking same question.

Indeed, but the 'O' trades are more interesting than the AT trades.

Anybody able to put a chart in the header on this page? Would be a great help. thanks

I could be wrong Acer, but I think it's only the person who started the thread who can put a chart in the header. JRM - where are you? :-)

You are correct db4. Here's one to be going on with.