Speedy Hire Looks at Irish Expansion After Strong First Half

Dec. 1, 2005
NEWTON-LE-WILLOWS, England Officials of Speedy Hire, one of the United Kingdom's largest rental companies, said the company is looking at a major expansion

NEWTON-LE-WILLOWS, England — Officials of Speedy Hire, one of the United Kingdom's largest rental companies, said the company is looking at a major expansion into Ireland on the heels of a first-half profit increase of 16 percent.

Based in Newton-le-Willows, England, Speedy has 304 depots in the U.K. The company said pre-tax profit rose to more than U.S. $22 million for the six months ended Sept. 30, up from about $19.2 million for the same period last year, based on current currency conversion rates. Revenue for the six-month period rose from about U.S. $170 million to more than $206 million.

During the past year and a half, Speedy has completed seven acquisitions for about U.S. $60 million, which it financed from existing resources.