British rental company Speedy Hire last week announced volume rising by almost a third to about 150 million pounds (about U.S. $290 million) for the six-month period ended Sept. 30. Interim pre-tax profits were $16 million pounds (about U.S. $31 million). The profit level was about 19-percent higher than for the same period last year.
Speedy Hire spent about 48 million pounds (about U.S. $93 million) on fleet during the period, with about 26 million spent on replacement fleet and about 18 million on new equipment.
Speedy Hire’s equipment division consists of power, lifting, space, survey and pumps divisions, and also handles earthmoving equipment. Sources say the company is considering further acquisitions, especially in areas such as lighting, welding and environmental management systems.
Chief executive Steve Corcoran said the company would continue to expand through a combination of organic growth and acquisitions. Speedy Hire has more than 300 branches in the United Kingdom and Ireland.
