U.K.’s Speedy Enjoys Strong First Half

Dec. 6, 2004
Leading British rental company Speedy Hire last week said it boosted first-half profits by 21 percent and expressed confidence it could continue to grow its rental business. After making a number of recent acquisitions, the company, which has 303 ...

Leading British rental company Speedy Hire last week said it boosted first-half profits by 21 percent and expressed confidence it could continue to grow its rental business. After making a number of recent acquisitions, the company, which has 303 facilities in the United Kingdom, said it saw increasing opportunities in new markets, including oil and specialist manufacturing.

Over the six month period ended September 30, the company boosted market share in tool hire, portable accommodation, aerial equipment, surveying and measuring instruments and compressed air and power-generating equipment.

Speedy recently acquired Multi Group and Coates Rentair, as well as the internal rental operations of Simons Construction Limited, a large, privately owned construction group.

Chairman David Wallis said Speedy’s goal was to grow its traditional tool hire and specialist equipment rental divisions through organic expansion and to improve its market share in non-construction markets.