Press Releases

Financial Highlights

• Underlying revenue increased by 6.4% to £169.1m (2011: £158.9m*)
• Underlying EBITDA+ increased by 15.1% to £33.6m (2011: £29.2m*)
• 37.5% increase in adjusted+ profit before tax to £6.6m (2011: £4.8m)
• Profit before tax has increased by £7.0m to £4.7m (2011: £2.3m loss)
• Earnings per share+ increased by 23.6% to 1.10 pence (2011: 0.89 pence)
• £9.9m increase in net book value of hire fleet -­‐ new investment delivering profitable revenue growth
• Return on capital employed increased to 7.0% (2011: 6.4%)
• Net debt to EBITDA+ (trailing 12 months) remains at 1.2x (31 March 2012: 1.2x)
• Interim dividend increased by 10% to 0.22 pence per share (2011: 0.20 pence per share)

*excludes the accommodation operation which was disposed of in April 2011

+ before amortisation and exceptional costs

Trading and Operational Highlights

• UK business performing well despite challenging market conditions
• Improvement in trading continues to be driven by ongoing focus on core customers and markets and on judicious capital investment to support these opportunities
• Speedy market share remains strong with the Group increasingly well positioned and growing revenue in the infrastructure markets of water, waste, energy and transport
• Ongoing evolution of customer base and improved quality, security and transparency of earnings
• International division profitable, with major strategic wins supporting future growth -­‐ significant opportunities for Speedy in these markets
• Continuing focus on costs and operational efficiencies driving improvement in margins and ROCE
• Property network consolidation ongoing and an additional 4 Superstores opened

Commenting on the results, Ishbel Macpherson, Chairman, said:

"We are pleased with the progress made in the first half of the year which clearly illustrates that our consistent strategy is delivering results.

Against a backdrop of challenging market conditions Speedy has further increased revenue and improved operating margins and returns; continued to implement efficiency initiatives and reduce costs across the business; whilst still investing to support key customers and areas of growth in both the UK and International divisions.

The Board's focus remains on generating hight quality, secure and transparent earnings across the Group, from markets where capital investment is more certain. The balance sheet remains strong and we are improving the overall return on capital employed. The Board therefore remains confident of Speedy meeting its expectations for the financial year."

For further information:

Speedy Hire Plc
Steve Corcoran, Chief Executive
Lynn Krige, Group Finance Director
Tel: 020 7796 4133 on Wednesday 14 November
(thereafter Tel: 01942 720000)

Hudson Sandler
Nick Lyon/ Andrew Leach
Tel: 020 7796 4133

(PDF, 405.1KB)

The world's first major steel bridge has undergone a £130m 10 year restoration project, thanks to a helping hand from the UK's leading provider of equipment rental and support services.

The Forth Rail Bridge, which connects Edinburgh with Fife, has received its first renovation since its opening 122 years ago after Speedy joined forces with contractors, Balfour Beatty, to help take it back to its former glory.

In a bid to help contractors during their challenging development, Speedy provided the entire structure with power and compressed air in order for re-painting work be carried out. Working closely with Balfour Beatty, the power division of Speedy resolved many challenges by supplying technical help and managing service products for the duration of the project.

Ian Hutchison, regional sales manager at Speedy Power UK North, said: "It's been a pleasure to work in partnership with Balfour Beatty on this unique contract. Speedy were welcomed into the bridge alliance and have been active in Balfour Beatty's zero harm campaign.  We have also assisted with bespoke method statements and risk assessments at a series of workshops surrounding our power equipment for this project."

"Strong bonds have been built up between not only the sales team and contract managers but with our service engineers, service manager and the bridge contractors over the last 9 years."

Colin Hardy, construction manager at Balfour Beatty, said: "Speedy had a clear understanding of what the project required. They in the true sense of the word formed a strong alliance and rapport with the site team, from technical help and service, to monthly visits to the site from the sales team.

Colin added: "Speedy Power designed a bespoke power package, which consisted of both temporary power and compressed air for the challenges that this iconic project bought."

Without the technical help from the power division of Speedy this would have been a much more challenging project to complete."

END

For more information contact

Ben Smallman, or Lizzie Furnell on
Tel: 01902 714957
E-mail: ben@connect-group.com or lizzie@connect-group.com

About Speedy Services

Founded in 1977, Speedy is the leading provider of equipment rental and support services to a wide range of clients across the construction, infrastructure, industrial, rail, manufacturing and facilities management sectors - as well as to local trades and industry.

Operating from over 325 fixed sites - together with a number of on-site facilities at client locations throughout the UK, Ireland and the Middle East - the company supplies a range of services including:

• the hire of small tools and equipment
• surveying and measurement instrumentation
• lifting and materials handling equipment
• powered and non-powered access equipment
• compressed air
• lighting equipment
• temporary power generation
• mechanical pumps
• temporary site communications

The group also provides associated services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM).

Website: http://www.speedyservices.com/

Following a huge £7 million investment into its power division, Speedy Services is continuing to flex its muscle as the UK's leading provider of equipment rental and support services by doubling the size of its electrical scissor lift fleet in a £4 million deal.

In what Speedy bosses are calling 'another landmark investment', new batches of 19ft and 26ft Skyjack electrical scissor lifts – the SJIII 3219 and SJIII 3226 - have been ordered for the company's network of depot centres across the UK, reinforcing its commitment to deliver access to rental equipment during busy summer months for the industry.

Electric scissor lifts are proving to be an increasingly popular alternative to powered access towers and present a number of safety and sustainability benefits for those who are required to work safely at a height.

The SJIII 3219 and SJIII 3226 both feature:

• Drivability at full height
• 90o steering with zero inside turning radius for optimum manoeuvrability
• Dual holding brakes
• Proportional controls for drive and lift functions
• A pothole protection system
• An overload sensing system
• Lowering warning system
• Two person capacity, which reduces time spent erecting towers and moving between work points

Andy Connor, Speedy's supply chain director, said: "I'm delighted to announce another landmark investment for Speedy. We continually strive to put the needs of customers first through our product improvement, innovation and investment programme.

"Skyjack manufacture outstanding electrical scissor lifts which give users the optimum level of performance and safety. We're confident that these units, which will be available at our centres across the UK, will meet the needs of those working in aerial lift professions."

"Our level of investment into rental equipment this year is a clear indicator that we are determined to fill supply gaps in the market and provide a market leading service to our customers."

Skyjack, which started to manufacture powered work platforms in 1986, is a world leader in aerial lift industry with over 30% of global market share, reaching territories as far as North America, Asia and Australia.

Chris Patterson for Skyjack, said: "We're delighted that Speedy Services has decided to invest in the SJIII 3219 and SJIII 3226 as it shows a high level of trust in our products. We're confident that customers across the UK will be impressed with these units and the many benefits they bring to working comfortably at a height."

For more information, please visit www.speedyservices.com.

ENDS

For more information contact

Ben Smallman or Lizzie Furnell on
Tel: 01902 714957
E-mail: ben@connect-group.com or lizzie@connect-group.com

About Speedy Services

Founded in 1977, Speedy is the leading provider of equipment rental and support services to a wide range of clients across the construction, infrastructure, industrial, rail, manufacturing and facilities management sectors - as well as to local trades and industry.

Operating from over 325 fixed sites - together with a number of on-site facilities at client locations throughout the UK, Ireland and the Middle East - the company supplies a range of services including:

• the hire of small tools and equipment
• surveying and measurement instrumentation
• lifting and materials handling equipment
• powered and non-powered access equipment
• compressed air
• lighting equipment
• temporary power generation
• mechanical pumps
• temporary site communications

The group also provides associated services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM).

Website: http://www.speedyservices.com/

At the Annual General Meeting to be held today at 11:00am Ishbel Macpherson, Chairman, will give the following update on the Group's progress since the start of the current financial year:

“The new financial year has begun satisfactorily and first quarter performance remains in line with management expectations. Despite the quarter trading being affected by the Easter break, May bank holidays and the Queen’s Jubilee, underlying* Group revenues in the three months to 30 June 2012 are up 5.6% on the same period last year.

Against the backdrop of ongoing uncertainty in the construction sector, the Group’s key growth areas of water, waste, energy and transport continue to offer opportunities for the business and provide management with confidence that Speedy will continue to make further progress in the current financial year.

Within the UK & Ireland Asset Services division, which constitutes over 95% of Group revenues, underlying* revenues were up 2.5% on the same period last year. During the period, UK yields were marginally down as a result of increasing volumes and rates offset by decreases in product and customer mix changes.

The International Division has seen an encouraging start to the year, with revenues for the first quarter some 61% ahead of the equivalent prior year period, driven predominantly by continued growth in oil and gas projects across the Middle East region and in Abu Dhabi in particular. Having moved to a break-even position during the second half of FY12, the business is now trading profitably at an operating profit level and is on track to make further progress during FY13. The $50m, five year asset management and service support contract awarded to Speedy by ESNAAD is a key development for the business and illustrates well the potential for this part of the Group in the future.

During the period Speedy has continued to manage capex effectively and management remains focused on generating strong cashflow within the business. We have continued to invest in our hire fleet where there is demand from our customers for our services and in particular have strengthened the fleet in the areas of power generation, compressors and low level access.

As previously announced, we expect the Olympics to impact on trading in the second quarter. However we continue to make steady progress through working closely with our key customers, cautiously investing in our fleet, developing our property base and driving further efficiencies through the business. With its market leading position, strong balance sheet, and continued focus on self-help and growth markets, the Board remains confident that the Group is well positioned for the future.”

*excluding the disposed accommodation business and before planned disposals of hire fleet

For further information please contact:

Speedy Hire Plc
Steve Corcoran, Chief Executive
Lynn Krige, Group Finance Director
Tel: +44(0) 1942 720 000

Hudson Sandler
Nick Lyon / Andrew Leach
Tel: +44(0) 207 796 4133

Note – Forward looking statements

The information in this release is based on management information.

This report includes statements that are forward looking in nature. Forward looking statements involve known and unknown risks, assumptions, uncertainties and other factors which may cause the actual results, performance or achievements of the Group to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Except as required by the Listing Rules and applicable law, the Company undertakes no obligation to update, revise or change any forward looking statements to reflect events or developments occurring after the date of this report.

Notes to Editors:

Founded in 1977, Speedy is the leading UK provider of equipment rental and support services to a wide range of clients across the construction, infrastructure, industrial, manufacturing and facilities management sectors - as well as to local trades and industry.

Operating from 283 fixed sites - together with a number of on-site facilities at client locations throughout the UK, Ireland and an international hub based in the Middle East - the Group supplies a range of services including:

• the provision of small tools and equipment
• surveying and measurement instrumentation
• lifting and materials handling equipment
• low level access equipment
• compressed air
• lighting equipment
• temporary power generation
• mechanical pumps
• temporary site communications

The Group also provides associated services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM).

Speedy is accredited nationally to ISO9001 and OHSAS18001 accreditations. In addition we have ISO14001 (210 depots) and nationally hold HAE SAFE Hire accreditation, as well as Achilles Link-up, UVDB, Building Confidence and F-Pal.
Further accreditations include Constructionline, SAFEcontractor, CHAS, LEEA and BITC Gold Award for CR Index 2012

Speedy today announces that, as subcontract partner to ESNAAD, the support services arm of Abu Dhabi National Oil Company (ADNOC), it has been awarded a long-term contract to provide logistics, asset management and equipment rental services to support Zakum Development Company‟s (ZADCO) flagship UZ 750 Project at Abu Dhabi‟s Upper Zakum field, the fourth largest oilfield in the world.

The contract, which is for an initial period of 5 years with a 2 year extension option, covers the full range of logistics, asset management and equipment rental services required to support drilling and processing activities on four artificial islands which are being constructed by ZADCO. The use of artificial islands, as opposed to conventional offshore rigs, is to enable the use of land-based drilling techniques to attain ultimate recovery of 70% of the field‟s proven reserves.

The UZ 750 Project is one of the largest offshore oilfield development projects in the United Arab Emirates and aims to increase oil production from the Upper Zakum field to 750,000 barrels per day and to sustain this level of production for at least 25 years.

The contract is expected to be worth in excess of $50 million in revenues to Speedy over its initial term. Phased mobilisation is to begin shortly.

Commenting on the contract award, Speedy‟s Chief Executive, Steve Corcoran said:

“We are delighted to have been awarded this major asset services contract to support ESNAAD and ZADCO in relation to one of the flagship capital projects in the oil and gas sector in the Middle East region. As a group, we have significant experience over the years of using our technical expertise in major oil and gas infrastructure projects and this, combined with our ability to provide complementary asset management services on a wider basis, has been an important factor in our International Asset Services business securing this major contract.”

Darwish Al Qubaisi, ESNAAD's General Manager added:

“This is an extremely significant agreement through which ESNAAD, with its technical partner Speedy, will service ZADCO‟s artificial islands. ESNAAD will execute its vast array of skill and technical expertise to ensure the successful culmination of this ground-breaking project. We look forward to the fruitful and continued cooperation between all parties.”

For further information:

Speedy Hire Plc
Steve Corcoran, Chief Executive
Lynn Krige, Group Finance Director
Tel: 01942 720000

Hudson Sandler
Nick Lyon / Andrew Leach
Tel: 020 7796 4133

Notes to Editors:

1. ZADCO's UZ 750 project is one of the largest oil and gas capital projects being undertaken in the Middle East presently with a total projected capital spend of some $15 billion. Abu Dhabi accounts for approximately 9% of the world's proven oil reserves. The Upper Zakum field is Abu Dhabi's largest current oil field covering approximately 1,200 square kilometres and is situated 80 km offshore. It is the second largest oil field in the Gulf and the fourth largest oil field in the world.
2. ZADCO is a joint venture between Abu Dhabi National Oil Company (ADNOC) (60%), ExxonMobil (28%) and Japan Oil Development Company (JODCO) (12%) and manages the production from, and further development of, the Upper Zakum field. Upper Zakum is considered one of the most complex fields in the oil industry because of its high rock porosity and low pressure. Exxon Mobil joined the ZADCO consortium in March 2006 with the prime task of further developing the field in order to increase its daily output of 550,000 bpd to 750,000 bpd.
3. In October 2009 it was announced that, instead of expanding production by constructing additional conventional offshore platforms on the field, four artificial islands would be built to enable the use of land-based drilling technology to enhance recovery rates. The islands, each of which measures approximately 1 km square, are made of rock and dredged sand. Handover to ZADCO of the first island took place earlier this year. The remaining three islands are in the process of construction and are expected to be handed over in six-monthly phased intervals.
4. ESNAAD is a wholly-owned subsidiary of ADNOC and is the leading provider of oil and gas services in Abu Dhabi. “Esnaad” is the Arabic word for “support”.

Speedy has scooped a double whammy at this year's prestigious HAE EHA Awards, held recently at the Grosvenor House Hotel in London.

The UK's largest equipment rental and services company fought off stiff competition to pick up top awards in the Healthy and Safety category and for Workshop Manager the Year.

This is not the first time Speedy has won a double accolade at the industry's leading hire awards and it firmly believes that this success is down to its commitment to continually improve standards, making safety at the heart of everything it does and its working approach to 'keeping things simple'.

Graham Neave, safety and health director, comments: "Safety is paramount for staff and customers of Speedy and our 'keep it safe' mentality and approach to work is at the core of our business and our operations.  We always strive to raise the bar and look at practical and innovative solutions to improve our targets." 

Judges were also impressed with the company's health and safety achievements and accreditations, and its year-on-year improvements to reduce accidents.  Graham adds: "Our Safety, Health, Environment and Quality (SHEQ) team is made up of 15 individuals with in excess of 200 years of experience. Collectively, they are responsible for measuring, monitoring and managing our performance as well as instilling health and safety excellence into the fabric of the Group.  For us health and safety is no longer just a policy, it's a state of mind and we're of course delighted to have been given such a prestigious award."

And it's this very state of mind and commitment to improve every aspect of the business and his team's performance that workshop manager, Gary Joseph, has been awarded and recognised for Workshop Manager the Year.

Working at the Erith-based 'super' workshop, Gary's role within Speedy sees him undertake fresh challenges every day, but he has just the right combination of practical attributes - to get the job done - combined with an inspirational personality to lead and motivate.

Responsible for 92 employees, servicing 50 depots, managing the logistics of a fleet of nine vehicles and servicing 5,000 items of equipment every month, Gary takes this all in his stride with a positive mental attitude.  Having worked his way up the ranks of Speedy and undertaken numerous internal training courses, he is a fine example of an employee who has achieved excellence. 

Steve Palmer, UK workshops director, comments: "Gary thrives on a challenge and is always looking at better, more efficient ways of operating, which give our internal customers increased levels of service and ultimately provide them with the products they require to the standards they expect."

Concluding, Gary says: "Speedy provides industry-leading career development and fantastic opportunities for those who are committed to customer excellence.  I'm thrilled to have won and would like to thank my team who have helped and supported me over the years, as I couldn't have done it without them."

ENDS

For more information contact Jenny Holden or Lizzie Furnell on 01902 714957; jenny.holden@connect-group.com or lizzie@connect-group.com

About Speedy Services

Founded in 1977, Speedy is the leading provider of equipment rental and support services to a wide range of clients across the construction, infrastructure, industrial, rail, manufacturing and facilities management sectors - as well as to local trades and industry.
 Operating from over 325 fixed sites - together with a number of on-site facilities at client locations throughout the UK, Ireland and the Middle East - the company supplies a range of services including: 

• the hire of small tools and equipment
• surveying and measurement instrumentation
• lifting and materials handling equipment
• powered and non-powered access equipment
• compressed air
• lighting equipment
• temporary power generation
• mechanical pumps
• temporary site communications

 The group also provides associated services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM). 
 Website: http://www.speedyservices.com/

Speedy's UK power division is boasting an impressive show of power for its customers to make the most of, courtesy of a £7 million expansion of its fleet of generators.

The UK's leading provider of equipment rental and support services is flexing its muscles in a big way to increase its power provision, with a further 37 1260kVA units now under the Speedy banner, across the UK and international divisions.

The investment will bring added stability and reassurance for facilities managers everywhere, particularly during the summer months when demand on the grid is expected to be at an all-time premium.

It will also confirm Speedy's generator supply as one of the most modern and efficient anywhere in the UK.

Brian Cornett, managing director of Speedy's power division said: "We recognised a gap in the market and a growing demand by our customers that we had previously been unable to meet, which is why we have invested considerably in this new fleet.

"As part of our continual product improvement, innovation and investment programme, our new fleet now puts us in a leading position to provide power for mains failure, peak lopping, grid support and temporary back up on sites.

"The flexibility of the new units means that we can offer our clients additional power where the mains cannot fulfil their requirements during periods of peak demand."

In addition to the new fleet, Speedy is able to provide a bespoke project-managed turnkey solution to include cabling, step-up transformers, installation and connection as well as a premium back up service.

An extensive product support programme is also in place for customers, which is available 24 hours a day, seven days a week.

All of Speedy's units are housed within 20' ISO containers and can be automatically started and stopped at required times, allowing customers to cut down on manpower and fuel costs.

Brian concludes: "With the rapidly growing need for power and peak seasonal demands, a MW solution to supplement the local grid can be taken care of exclusively by us, and now that we have a full fleet behind us, our customers will soon be able to reap the rewards of temporary large scale power."

Ends.

For more information contact Ben Smallman, or Lizzie Furnell on 01902 714957; ben@connect-group.com or lizzie@connect-group.com

About Speedy Services

Founded in 1977, Speedy is the leading provider of equipment rental and support services to a wide range of clients across the construction, infrastructure, industrial, rail, manufacturing and facilities management sectors - as well as to local trades and industry.

Operating from over 325 fixed sites - together with a number of on-site facilities at client locations throughout the UK, Ireland and the Middle East - the company supplies a range of services including:

• the hire of small tools and equipment
• surveying and measurement instrumentation
• lifting and materials handling equipment
• powered and non-powered access equipment
• compressed air
• lighting equipment
• temporary power generation
• mechanical pumps
• temporary site communications

The group also provides associated services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM).

Website: http://www.speedyservices.com/

Annual Results for the year ended 31 March 2012 – Measured Progress

Financial Highlights

• Adjusted profit before tax* of £12.4m (2011: loss of £0.7m)
• Profit before tax (post amortisation and exceptional items) of £3.2m (2011: loss £27.0m)
• Second half year adjusted profit before tax* of £7.6m (H1: £4.8m)
• Underlying** revenue up 4.3% to £326.4m (2011: £313.0m) (Unadjusted revenue of £329.3m down 7.0% (2011: £354.2m))
• EBITA* up 136% to £19.6m (2011: £8.3m)
• Net debt reduced by £37.6m to £76.3m (2011: £113.9m) even after £20.9m increase in net capex
• Net debt/EBITDA* reduced to 1.2x (2011: 1.8x)
• Final dividend increased to 0.26 pence per share (2011: 0.20 pence per share)

*before amortisation and exceptional costs
** excluding amortisation and exceptional costs

Trading and Operational Highlights

• Business moved back into profit and Speedy remains clear market leader
• Well positioned and growing revenue in the core regulated infrastructure markets of water, waste, energy and transport – now account for 25% of Group revenues
• Continued 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 seven superstores opened in the year
• Management action has returned operational efficiencies to pre downturn levels
• International Asset Services traded profitably in the second half of the year, demonstrating continued progress

Commenting on the results, Ishbel Macpherson, Chairman, said:

“We are pleased to report that the business has returned to profit in the year. Our strategy continues to be one of aligning ourselves to the key market sectors and the majors that are demonstrating growth, along with a disciplined approach to cash and managing costs. This has resulted in continued progress for the Group and we have created a solid platform from which to build for the future.”

For further information:

Speedy Hire Plc
Steve Corcoran, Chief Executive
Lynn Krige, Group Finance Director
Tel: 020 7796 4133 on Wednesday 16 May
(thereafter Tel: 01942 720000)

Hudson Sandler
Nick Lyon/ Andrew Leach
Tel: 020 7796 4133

The UK's leading equipment rental and support services company is set to contribute to the emission saving performance of its latest product through the implementation of a lean distribution strategy.

Speedy Services has unveiled the new Husqvarna K760 OilGuard, which is specifically designed to prevent engine damage, machine breakdowns and costly repairs – while significantly cutting energy consumption and CO2 emissions.

As part of its sustainability programme named 'One Plan', Speedy, in partnership with Husqvarna, has developed a lean distribution strategy to introduce the product into its national network of over 300 depots and which is designed to reduce waste packaging, CO2 emissions and man-hours.

Andy Connor from Speedy said: "We're delighted to be launching a distribution strategy that compliments the energy efficient performance of the K760 OilGuard.

"The K760 will be delivered to key Speedy depots in pallets of 14 rather than individually and will not be boxed or packaged, saving materials. It's projected that this will save over £3,000 in packaging costs, 25 skips worth of waste and 672 man hours."

The standard K760 is energy efficient, saving 16 per cent of energy and 3.01kg CO2 emissions compared its predecessor. But with the added benefit of an OilGuard – which uses an optical sensor system to detect when the incorrect oil/fuel mixture is used in the engine – engine breakdowns will significantly reduce, resulting in a direct cut of CO2 and man hours.

Steve Hallam from Husqvarna adds: "This is a great addition to Speedy's portfolio of products and what is particularly unique about the K760 is that it features the new generation of Active Air FiltrationTM, one of the the most efficient air filtration systems on the market, delivering operational times – for dry cutting – of up to one year, with no filter service required.

"Also, the K760's X-TORQ® engine produces 75 per cent less emissions, 20 per cent lower fuel consumption and more power. Both of these features I'm sure will appeal to contractors across the UK, making the K760 an integral piece of equipment."

For more information, please visit www.speedyservices.com.

ENDS

For more information contact Ben Smallman or Lizzie Furnell on 01902 714957; ben@connect-group.com or lizzie@connect-group.com

About Speedy Services

Founded in 1977, Speedy is the leading provider of equipment rental and support services to a wide range of clients across the construction, infrastructure, industrial, rail, manufacturing and facilities management sectors - as well as to local trades and industry.

Operating from over 325 fixed sites - together with a number of on-site facilities at client locations throughout the UK, Ireland and the Middle East - the company supplies a range of services including:

• the hire of small tools and equipment
• surveying and measurement instrumentation
• lifting and materials handling equipment
• low level and non-powered access equipment
• compressed air
• lighting equipment
• temporary power generation
• mechanical pumps
• temporary site communications

The group also provides associated services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM).

Website: http://www.speedyservices.com/

(PDF, 141.2KB)

A ‘golden’ performance in the corporate responsibility field has secured Speedy a prestigious accolade from Business In The Community (BITC), it was revealed.

The UK’s largest equipment rental and services company has positioned itself alongside some of the biggest and best company names, thanks to its impressive showing in the BITC’s Corporate Responsibility Index 2012.

The index, set up by BITC, aims to ‘challenge and support companies to integrate responsible business practice.’

It confirms that the brand has improved its rating from silver to gold, coupled with a score of 88 per cent in 2011 to 92 per cent today.

The result establishes Speedy’s position as a leading company in understanding the relationship between transforming business practices and operating sustainably.

Speedy’s head of brand marketing Dan Walmsley said: “This is fantastic news for the business and underlines the significance we place on positively managing our commercial, social and environmental impacts.

“This result proves that we are getting things right, so it is wonderful to be endorsed in this way.

“Our rating will also please our customers, supporting them in their requirements to have a sustainable supply chain.”

Dan added that the company’s impressive corporate responsibility rating endorses One Plan – Speedy’s sustainability programme to help it and its customers and suppliers operate more efficiently, effectively and sustainably.

“One Plan reflects our belief that sustainable, responsible business practice is not a separate activity. It is part of the fabric of our business and central to our business principles.”

(PDF, 32.9KB)

Speedy Hire Plc, the UK’s largest provider of tools and equipment for hire, is releasing its interim management statement in respect of the period from 1 October 2011 to 14 February 2012.

Trading for the period overall has been in line with the Board’s expectations.

Group underlying* revenues for the third quarter (Oct – Dec) were up 7.6% against the prior year with the focus on self help measures to drive operational efficiency delivering further improvement in profitability. We expect to have opened a further 3 superstores by the end of February, continuing the network reconfiguration in order to deliver improvements in customer service, product availability and operational efficiency thereby continuing to drive margin growth.

Speedy’s second half is always influenced by the Christmas period when the weather and holidays cause activity for many of our clients to be reduced. Whilst in January, the initial speed of recovery following the Christmas period was slower than expected as the mild weather resulted in lower revenues from heating and drying equipment, subsequently, trading has benefited from the recent bout of cold weather together with improved revenues from non-weather related activity.

The Group has maintained its focus on the regulated industries and private sector investment markets of water, waste, energy and transport. Speedy is making steady progress despite the challenging market conditions and uncertain economic outlook and the Board remains confident of meeting its expectations for the financial year.

For further information:

Speedy Hire Plc
Steve Corcoran, Chief Executive
Lynn Krige, Group Finance Director
Tel: 01942 720000

Hudson Sandler
Nick Lyon/ Andrew Leach
Tel: 020 7796 4133

Website: www.speedyhire.plc.uk

Note - Forward looking statements

The information in this release is based on management information.

This report includes statements that are forward looking in nature. Forward looking statements involve known and unknown risks, assumptions, uncertainties and other factors which may cause the actual results, performance or achievements of the Group to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Except as required by the Listing Rules and applicable law, the Company undertakes no obligation to update, revise or change any forward looking statements to reflect events or developments occurring after the date of this report.

Notes to Editors:

Founded in 1977, Speedy is the leading UK provider of equipment rental and support services to a wide range of clients across the construction, infrastructure, industrial, manufacturing and facilities management sectors - as well as to local trades and industry.

Operating from over 300 fixed sites - together with a number of on-site facilities at client locations throughout the UK, Ireland and an international hub based in the Middle East - the Group supplies a range of services including:

• the provision of small tools and equipment
• surveying and measurement instrumentation
• lifting and materials handling equipment
• low level access equipment
• compressed air
• temporary power generation
• mechanical pumps
• temporary site communications

The Group also provides associated services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM).

Speedy is accredited to ISO9001 and recently achieved national OHSAS18001 accreditation. Additionally we have ISO14001# and nationally hold the HAE SAFE Hire accreditation.

#(187 Depots)

*underlying revenue is total revenue excluding revenue from fleet sales and adjusted for the disposal of the accommodation hire operations in April 2011 and the expiry of the Network Rail maintenance contract in December 2010.

Speedy has become the first equipment hire and support services company to release an app for iPhone, to help customers access their depots while on the move.
 
The app has full GPS functionality, allowing users to quickly find the Speedy branches based on their current location through connectivity with Google maps. Customers can also manually search for a branch by specifying the products or services they are looking for.

The UK’s leading supplier of support services and equipment hire developed the app in conjunction with digital marketing agency Tecmark with the aim of giving customers access to information about Speedy’s 325 branches.

Directions to depot from the user’s current location can also be provided via the app.

The app also provides details about each depot, such as opening hours and allows users to ‘favourite’ their most visited Speedy branches.

The App is now available for download from the app store .   

Steve McIntyre, Group Marketing Director at Speedy said: “Our customers aren’t glued to a computer all day. Contractors often work at a variety of sites, and the nature of the work they undertake can sometimes be unpredictable, meaning they need to get hold of the right equipment at short notice.

“This app solves this problem by allowing users to have all the latest Speedy depot information at their fingertips.”

For further information please contact:

Press Information:  

Sarah Carlin or Ricky Ambury at Citypress

Tel: 0161 235 0300
E-mail: speedypr@citypress.co.uk

Notes to Editors:

Founded in 1977, Speedy is the leading UK provider of equipment rental and support services to a wide range of clients across the construction, infrastructure, industrial, manufacturing and facilities management sectors - as well as to local trades and industry.

Operating from over 325 fixed sites - together with a number of on-site facilities at client locations throughout the UK, Ireland and the Middle East - the company supplies a range of services including:

• the provision of small tools and equipment
• surveying and measurement instrumentation
• lifting and materials handling equipment
• powered and non-powered access equipment
• temporary accommodation
• compressed air
• temporary power generation
• mechanical pumps
• temporary site communications
• welding & engineering
• concreting & screeding
• light Plant & towables

The Group also provides associated services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM), as well as offering advisory services in areas such as health and safety, environmental and regulatory compliance.

Website:  www.speedyservices.com

Speedy has invested £3.3 million in JCB 8018 Mini Excavators, the biggest order that JCB received for the model in the past year.

The equipment and support services business made the major purchase in order to further bolster its offering to its customer base in the utilities sector, which includes Thames Water and Welsh Water.

JCB, one of the world’s top three manufacturers of construction equipment, liaised with leading utility contractors in order to develop the design for the 8018.  Special safety features include a steel panel in place of the lower door window in order to reduce glass damage to the cab and a weight sensitive seat, which only allows the machine to be driven when the operator is fully seated.

 The  extending undercarriage also offers additional stability for operators working in conditions where the ground is unstable, for example when undertaking excavations on inclines or soft ground  before laying pipes.

With a 19hp engine, the 8018 is more  powerful and productive than other models. Its dozer blades can include two nylon wear strips on the lower dozer blade extensions  which sit on the road service while digging in order to prevent any damage to the asphalt and the tubular boom  has a narrow profile for excellent visibility to the bucket cutting edge when excavating, essential when working round other services. Speedy have even ordered a number of machines in “ high visibility paint” which reflect vehicle lights, just like a Hi Viz vest, an added safety feature for late night repairs to services, all part and parcel of utility work.

Andy Connor, supply chain director at Speedy, said: “We’ve been working in utilities for many years, and this market continues to grow for us. JCB designed this piece of equipment in collaboration with the utilities sector, so procuring it for our customers was a natural step and we expect it to be very popular.

For further information please contact:

Press Information:  

Sarah Carlin or Ricky Ambury at Citypress

Tel: 0161 235 0300
E-mail: speedypr@citypress.co.uk

Notes to Editors:

Founded in 1977, Speedy is the leading UK provider of equipment rental and support services to a wide range of clients across the construction, infrastructure, industrial, manufacturing and facilities management sectors - as well as to local trades and industry.

Operating from over 325 fixed sites - together with a number of on-site facilities at client locations throughout the UK, Ireland and the Middle East - the company supplies a range of services including:

• the provision of small tools and equipment
• surveying and measurement instrumentation
• lifting and materials handling equipment
• powered and non-powered access equipment
• temporary accommodation
• compressed air
• temporary power generation
• mechanical pumps
• temporary site communications
• welding & engineering
• concreting & screeding
• light Plant & towables

The Group also provides associated services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM), as well as offering advisory services in areas such as health and safety, environmental and regulatory compliance.

Website:  www.speedyservices.com