Speedy Hire's year-end results reveal profit rise of 59.9%

Speedy Hire has announced year-end results revealing profits of £25.9 million, up 59.9% on last year.

The company has attributed the rise to its customer service and expanded service offering. It states that a “revenue increase of 6.4% to £371.6 million, combined with a significant reduction in its debt, after acquisitions, are the result of progress towards these goals”.

These results follow the national roll-out of Speedy’s Capital Commitment campaign, guaranteeing customers same-day delivery, which has achieved early success within the M25 region.

It also signals a re-alignment of target markets to include regional and small to medium sized businesses, following a shift in the landscape, post-Carillion.

Speedy Hire chief executive Russell Down (pictured) said: “Our strategy is enabling the business to go from strength to strength despite a highly competitive market.

"We are now looking forward to building on this solid financial performance, further developing our service offering to help and guide our customers as trusted and reliable partners and delivering even greater success in the year ahead.”