Shares in Speedy Hire, the UK tools and plant hire services company, have fallen nearly 5 percent this morning after the release of a trading update.

During a statement, the board confirmed that the full year adjusted profit before tax is anticipated to be in line with market expectations, with net debt broadly in line with the previous year end.

Following a review, the Board has also announced that the value of acquired goodwill held on the balance sheet – £45 million – will be written off as a non-cash Exceptional Item in the full year results.

The statement also included the announcement that Rob Barclay, Managing Director UK, Ireland and Middle East of SIG plc will be joining the Board as a Non-Executive Director, with effect from 1 April 2016.

Speedy Hire (LON:SDY) is currently trading down 4.54 percent at 36.50 (0923GMT).

31/03/2016