Industrial equipment and tool hire company Speedy Hire has announced that it expects full-year adjusted pretax profit to have increased since the previous year and to be above expectations. Greg Poulton, analyst at N+1 Singer, called the trading update slightly ahead of expectations driven by further cost savings, adding that he expects to upgrade his current year pretax profit forecast by around 5 percent to 21.6 million pounds. The company, which is based in San Francisco, said its net income rose by $19.6 million or 14 cents per share from a year earlier on revenue of $1.07 billion. The company said that as part of an effort to reduce costs it had cut the number of its operating divisions and distribution centres.
Industrial equipment and tool hire company Speedy Hire has announced that it expects full-year adjusted pretax profit to have increased since the previous year and to be above expectations. The company, which is based in San Francisco, said its net income rose by $19.6 million or 14 cents per share from a year earlier on revenue of $1.07 billion. The company said that as part of an effort to reduce costs it had cut the number of its operating divisions and distribution centres.