Focused on delivery
Headline FY24 results were behind the prior year as expected but the underlying core hire and services performance was solid in a tough market. There is more to come from the Velocity strategy but material new business wins, enhanced financial control and the company’s growing position in clean energy equipment all augur well for future progress. Management expectations are unchanged and Speedy is trading ahead of FY24 in the first two months of FY25.Velocity is one year into its five-year strategic plan. This is still very much an enabling phase – though the capacity for growth already exists – and investment in operational and customer-facing workstreams are evident and planned. This holistic approach is intuitively appealing and seeks to build on Speedy’s very strong technology position. The execution appears to be on plan and delivering improvements in margins and returns will be the measure of progress in due course.
Speedy Hire provides hire equipment and services to enable the delivery of customer projects. Co.'s reportable business segments comprise U.K. and Ireland Asset Services and International Asset Services. The U.K. and Ireland Asset Services delivers asset management, with tailored services and a continued commitment to relationship management. The International Asset Services delivers major overseas projects and facilities management contracts by providing a managed site support service.
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