Speedy races to £19.5m
12 April 2012
NEW management at Speedy Hire has seen its faith in tool hire justified by a 14.5% increase in pre-tax profits to £19.5m. The company operates from 250 depots throughout Britain and claims to be the market leader in tool hire to the construction industry.
Chairman David Wallis has cut the total dividend to 8p from last year's 13.9p as the policy of investing in the business continues. A total of £53m was spent on investment and acquisitions last year. Wallis plans more small bolt-on acquisitions this year.
