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

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.

Another update on the chart from fingers (fxd thread), Acer. The results did look very positive and the share price was on a roll until the markets started going pear shaped on 29th May. This will bounce back and sometimes the harder the fall, the bigger the bounce. I'm happy to hold my quota on a slight loss and wait for the bounce.

Exactly. Whole market is down, so no cause for alarm atm, imo.

MARKET REPORT: Dealers tool up on Speedy Hire

By Geoff Foster

PUBLISHED:22:06, 14 June 2013| UPDATED:22:06, 14 June 2013

Before turning their attentions to next week’s horse-racing extravaganza at Royal Ascot, a few professional punters tooled up with Speedy Hire amid whispers that a bid for the company in the short-term could be a fair bet.


They chased shares of the UK’s largest provider of tools and equipment for hire 1.5p or 3 per cent higher to 52.25p, which compares with the 52-week high of 62.675p.

Rumours did the rounds that a cash-rich private equity firm had approached one of Speedy’s major shareholders, either Schroders (13 per cent) or Standard Life (9.1 per cent), to name a price for its stake with the intention of then using it as a launch-pad for a full-scale offer.

Fair bet: Speedy Hire is the UK's largest provider of tools and equipment for hire

Speedy, currently valued at £269million, last month posted an encouraging set of annual results, showing adjusted pre-tax profits climbing 35 per cent to £16.8million on revenues 4.3 per cent higher at £340.4million.

Net debt has been reduced to £72.4million. That is a far cry from the dangerous level of £248million in 2009, when management were forced to hit shareholders with an 87 per cent heavily-discounted ‘rescue’ rights issue at 23p to get debt down to a much more manageable £148million.

The company is in much better shape now with revenues and profits boosted by ‘proactive management action’ over the past few years.


During the past year it secured significant new contract wins with National Grid and a five-year £32million asset management and services support contract from the Abu Dhabi National Oil Company.


Its international business, which takes in United Arab Emirates, Oman and Egypt, is apparently thriving, so if there is a predator sniffing around, it would come as no surprise if it was domiciled in the Middle East.

Nothing like a rumoured potential bid for a company to spice up the share price !

Looking strong so far today - AHT's great results providing some stimulus perhaps.

AHT is always a good indicator to see which
way SDY might go, IMO.

Looking perky again this morning, hardly surprising considering the recent results.

Here's hoping!

Interesting parallels!! Both heading in the right direction. Think my money is on SDY for best return.