| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Speedy Hire profit drops 21%; reinstates dividend as demand recovers
StockMarketWire.com
|
Equipment and plant hire company Speedy Hire booked a 21% drop in annual profit but resumed its dividend, citing a strong recovery in the second half.
Pre-tax profit for the year through March fell to £12.3 million, down from £20.7 million year-on-year, as revenue slid 11% to £363.6 million.
Speedy Hire nevertheless declared full-year dividend to 1.4p per share, up from 0.7p year-on-year.
Hire revenue in the fourth quarter had risen 4% on a like-for-like basis.
'I am pleased to report results that are ahead of our expectations in what has been an exceptionally challenging year for customers and colleagues alike,' chief executive Russell Down said.
'"We have had an encouraging start to the 2022 financial year with revenue in April and May about 2% ahead of the equivalent period in 2019.'
'Our strong balance sheet and the actions we have taken to develop our digital and ESG offerings give us confidence for the future.'
Story provided by StockMarketWire.com
|
|
|
|
|
|
