Tool and equipment rental company HSS Hire Service Group posted a 33-percent increase in pre-tax profits for 2010, with £39.1 million (about U.S. $63.5 million) compared with £29.4 million a year ago. Revenues increased 15 percent to £171 million (about U.S. $278 million).

Chief executive Chris Davies said that despite the improvement, the market would continue to be challenging in 2011. He said the company’s growth in key accounts has been significant in its targeted sectors of facilities management, airports, retail and utilities.

Davies added that the company plans to invest in staff training as well as fleet in 2011. HSS, which has 232 branches in the U.K., is looking to expand further in 2011, Davies said.