U.K. tool and equipment rental chain HSS Hire posted revenues of £180.2 million (about U.S. $282.7 million), a 5.3-percent year-over-year increase. EBITDA rose 2 percent to £39.8 million. The company said the company’s growth was affected by the loss of its Network Rail contract and lower heating revenue because of mild winter conditions.
The company invested significantly in a new operating platform designed to improve customer service and operating efficiencies. The company also increased investment in powered access equipment, and now says it is the second largest provider of low-level aerial equipment in the U.K.
Other key accounts, such as British Waterways and Enterprise helped offset the loss of the Network Rail contract.
London-based HSS said it will focus on organic growth in 2012 and expects strong demand.