U.K. rental company HSS Hire, has agreed to a new banking facility that will allow it to pursue future growth plans.
The company posted an operating profit of £43 million in 2008 (about $68.8 U.S.) and has continued to trade profitably in 2009, the company said.
“At a time when many major U.K. companies are struggling, it is gratifying to retain our position and see our efforts to diversify and develop recognized, and supported positively with solid financial backing,” said Chris Davies, chief executive of HSS Hire. “This agreement allows us to concentrate on running the business, and to focus on our product portfolio and customers’ needs. We are totally committed to maintaining a strong presence in our current markets and I am confident that our plans will enable HSS to weather market conditions and achieve continued successes.”
HSS has opened 12 new stores in the past 12 months including new branches and “supercentres,” and all are meeting expectations, according to the company. In May, HSS launches LiveHire, an online facility for major customers.