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

Skinny, is there any time frame as far as chartists and gaps are concerned? That gap is 4 years old. Am holding and hoping.........

Not as far as I know - but I'm a novice chartist really.

For me, its yet another (and interesting) play on the construction industry - albeit at the smaller end of the market.

Thanks so much Harry and Skinny for charts,
Brilliant.

A nice big gap HARRY - even if it is 4 years old! Look at what has happened with TCG for example, I know it's a completely different sector, but it can be done.

Is 65p - 70p a possibility / reality ? After today's drop to 55p.

Brigg, it could drop back a little further, it needs more volume to bounce back up. jmop

Speedy Hire PLC (0.31 p) ex-divi next wed (12th June).

steady consolidation till after the divi I expect, but looking quite strong.

Updated chart analysis by fingers (SDY thread) on another bulletin board makes interesting reading.

Yes, saw that D4, he seems very +ve on SDY.
Wish he had come over to here rather than turning Blue!! Would be good if a few others came over.

I agree Acer, there are so many nutters on that board and admin. seem to be either incapable or unwilling to do anything about it.

Ex dividend this Wednesday 0.31P

Fingers done an update at 'another place'
How much is it expected to drop ex Div?

.

I can't predict how much it will drop x div tomorrow Acer, it's dropping already in these choppy markets!

re - How much is it expected to drop ex Div?


tomorrow is the day to go EX for 0.31p divi

expect at opening 0.25p down

Thanks Mondy, is there formula for working out xd price?

Speedy Hire Plc

12 June 2013

Annual Report & Accounts 2013 and Notice of Annual General Meeting

Speedy Hire Plc (the "Company") announces that its Annual General Meeting will be held at 10.00am on Thursday 18 July 2013 at Addleshaw Goddard LLP, 100 Barbirolli Square, Manchester, M2 3AB.

In connection with this, the following documents have been posted to shareholders:

· Annual Report and Accounts for the year ended 31 March 2013 ("Annual Report");

· Notice of Annual General Meeting; and

· Proxy Form.

Copies of the above documents have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/nsm

Copies of the Annual Report and Notice of Annual General Meeting will be available to view on the Company's website at www.speedyhire.plc.uk from today.

Financial Highlights
• 35.5% increase in adjusted profit before tax# to £16.8m (2012: £12.4m)
• Second half-year adjusted profit before tax# of £10.2m, increased from £6.6m in the first-half
• Underlying* revenue increased by 4.3% to £340.4m (2012: £326.4m)
• EBITA# up 24.5% to £24.4m (2012: £19.6m); EBITA margin improving to 7.2% (2012: 6.0%)
• Profit before tax (post amortisation and exceptional items) of £12.8m (2012: £3.2m)
• Continued steady progress on ROCE; increased to 7.9% (2012: 6.0%)
• Net debt reduced to £72.4m (2012: £76.3m); net debt/EBITDA improved to 0.99x (2012: 1.21x)
• Investment in the hire fleet continues with net book value increasing to £214.5m (2012: £210.3m), whilst continuing to reduce net debt
• Final dividend proposed of 0.31 pence per share (2012: 0.26 pence per share) resulting in an increase of 15.2% in the total dividend per share
* Excluding the accommodation operation disposed of in April 2011.
# Before amortisation and exceptional items.


Trading and Operational Highlights
• Revenues from non-construction activity now account for over 50% of group income
• Well positioned and growing revenue in our target infrastructure and industrial markets
• Focus on key clients and significant contracts delivering outperformance of UK construction market
• Further strong growth and profitable trading in International Asset Services – progress with ZADCO underpins visibility of future revenue
• Focused drive to control costs, strengthen the revenue base and maximise cash generation instrumental in the return to profitability
• Consolidation of the UK’s property network continues with 6 additional superstores opened in the year


Commenting on the results, Ishbel Macpherson, Chairman, said:
“These results illustrate the impact that proactive management action over the last few years has had on Speedy’s business. Our focus on the right customers, in the right markets and on the right type of work has enabled the Group not only to grow revenue, but to do so at improved margins and levels of profitability, whilst improving cash flow and our ROCE.
Although there is still more to do, the continuing focus on quality and service throughout the Group through a range of self-help measures is differentiating our business in both the UK and international markets and underpins the transformation of Speedy from a hire to a service company.
We are confident that, in an environment of on-going economic headwinds, the actions that we have taken have increased our resilience and given us a solid platform upon which to build in the future, particularly when market conditions begin to improve.”

Chart looking negative after what looked strong and positive results. Waiting to buy more.