Speedy Hire (LON: SDY) continues to grow its services much faster than its hire revenues, according to its AGM trading statement.
In the first quarter of the current financial year, the equipment hire and services provider grew higher margin services revenues by 13.4%, compared with 1.2% growth in hire revenues. The disparity in growth rates is increasing.
In the year to March 2019, continuing revenues were 6% ahead at £389.2m, while underlying pre-tax profit was 19% higher at £30.9m. Services revenues were 10% ahead and hire increased by 3.5%.
Attempts to broaden the smaller compan...
