Updates

Speedy Hire

June 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Full year results showed sales up 6% to £362m, despite H2 sales being a bit lower than H1’s due to slight weakness around the election. Pretax profit before exceptional items went up 50% to £21.9m and eps by 57% to 3.2p reflecting lower interest and tax. As at 31 March, net debt was £105.3m (net debt to EBITDA of 1.45x)The exceptional items amounted to £17.1m and comprised the costs incurred for bringing forward the re-configuration of the network infrastructure, a loss on sale of the Middle East business and restructuring in both the Middle East / UK. In the UK, Speedy has an estimated 11% market share of the tool hire market versus 6% at Ashtead, 6% at HSS, 5% at VP and 4% at Lavendon and ...

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Staffline - Best ever start to the year

Fusionex - Higher than anticipated GIANT win rate

Speedy Hire (July 2015)

Speedy Hire (March 2015)

Speedy Hire - Winding down the Middle East spot hire (December 2014)

Speedy Hire (November 2014)

Speedy Hire - Heading to 10% operating margins (October 2014)

Speedy Hire (May 2012)

Speedy Hire - Improving Hire Rates (February 2012)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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