Speedy Hire

Speedy's international problems hit profits

Full-year revenue at Speedy Hire has risen by 2.9% to £349.7m, but a £4.3m loss made by its scandal-hit international business has caused pre-tax profits to fall by 4.6% to £14.6m.

Speedy shares hit by profits warning

Shares in Speedy Hire have fallen by nearly 17% after the company, which has only just been through a financial scandal, said its profits for this year would be lower than expected.

Speedy blames irregularities on former employees

Speedy Hire claims that the financial irregularities it uncovered last November – and which led to the resignation of former chief executive Steve Corcoran – were the result of “deliberate action” by a small number of people, all of whom have left the company.

International business still drags on Speedy

Speedy Hire says its international business is continuing to disappoint, although it says UK performance in the past quarter mean that it will still meet full-year market expectations.

New arrival quickly moves up to top job at Speedy

Mark Rogerson, who joined Speedy as chief operating officer in December, has been promoted to chief executive.

Galliford Try takes on Speedy Hire chair as director

Troubled Speedy Hire’s non-executive chairman Ishbel Macpherson has been made a non-executive director of Galliford Try.

She will be taking up her role from February next year.

£5m hole forces Speedy Hire's Corcoran to resign

Steve Corcoran, the man widely seen as being the driving force behind Speedy Hire’s growth, has been forced to resign after £5m in irregularities in its accounts were discovered – a situation which has led to it breaching terms with some of its lenders.

Speedy sees 2.6% UK revenue drop

Speedy Hire has seen its UK revenue drop by 2.6% in the past three months, but says it has still delivered a “resilient” performance considering the economic conditions.

Plant hire - not much upturn yet

In the middle of May this year Speedy Hire, one of the UK’s largest plant and tool hire firms, came home with full-year results that showed a 35% increase in pre-tax profits to £16.8m, and a 4.3% increase in revenue to £340.4m.

Speedy Hire sees more value outside construction

Speedy Hire has seen a 35% incrase in its full year profits and a 4.3% increase in revenue - but only by focusing more on markets outside its core UK construction base.

Speedy Hire ups profit estimates

Speedy Hire says strong progress in reconfiguring its UK depot network and improvements in operational efficiency mean that it is now forecasting slightly higher full-year profits when it reports them in May.

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