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Speedy back in the black

Plant hire group Speedy posted underlying profits of £4.8 million in the six months to September 30.

The figure represents a turnaround for the firm, which lost £9.9 million in the same period last year.

Speedy’s underlying revenues were up 2.1 per cent to £158.9m.

The firm said that it was well positioned in the core markets of water, waste, energy and transport.

Ishbel Macpherson, the chairman, said: “We are pleased to report the continuation of our recovery in these challenging times.  Our strategy of aligning ourselves with stronger customers and market segments, focusing on our core activities and driving improved efficiency is ongoing.  As a result, the Board is confident of the Group meeting its expectations for the financial year.”

The firm added that new financing secured in the summer would allow Speedy to invest in its fleet.

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