Tool hirer Speedy Hire reaped the rewards of its burgeoning equipment hire businesses as profits and turnover leapt again at the firm.
Chief executive Steve Corocan said that the four businesses - Space, Power, Lifting and Survey - produced record results and accounted for 38 per cent of Speedy Hire's turnover.
Mr Corocan said: 'Last year saw a step change in the performance of the equipment rental businesses.'
Group sales increased 21 per cent from £170.2 million to £206.5 million in the year to March. Pre-tax profits rose to £23.8 million, up 12.4 per cent from last year's £21.2 million.
The equipment rental businesses specialise in accommodation and storage, portable generation, lightweight lifting and specialist surveying and measurement instrumentation.
Speedy said that the businesses have 'very attractive prospects' and operate in markets worth around £2 billion.
The board announced a final dividend of 8p - making 12.3p for the year and 17 per cent up on 2004.
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