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Speedy and HSS 'targeting' Brandon

PLANT

SPEEDY Hire and HSS are believed to have Brandon Hire in their sights following its plans for a management buyout.

The 143-branch firm announced that it had received 'other approaches' as it announced turnover up 17 per cent to £57 million at its annual results last week.

Pre-tax profits to December 31 2005 rose by 4 per cent to £5 million. Chairman John Laycock called the rise satisfactory given the firm's recent focus on building a national branch network, which has grown 40 per cent in two years.

He added that in the first two months of 2006, like for like turnover growth was in double digits, and the buoyant market would continue.

He said: 'Now we have established coverage of mainland Britain, we do not expect to expand for the next few years.

'Our current strategy is simple: to increase the density of coverage of our branches and to establish market leadership in areas where we do not currently hold this posit ion.' The firm believes it can double the number of branches it has, predominantly through acquisitions.