John Gill has issued a profit warning following delays to the integration of a national distribution and engineering centre. The company said it expects the integrated centre within the year , but warned that the delay would affect core rental and revenue growth. Adjusted operating profits for the year are expected to be below market expectations, in spite of a 2.3% increase in revenue to £ £256 million m in the year and a 2.3% increase in adjusted operating profit to £52.4m. HSS closed 18 "underperforming" branches and four distribution centres this year as part of cost-cutting plans.
Speedy Hire has issued a profit warning following delays to the integration of a national distribution and engineering centre. The company said it expects the integrated centre within Q1 2017, but warned that the delay would affect core rental and revenue growth. Adjusted operating profits for the year are expected to be below market expectations, in spite of a 10.9% increase in revenue to £256m in the nine months to October and a 2.3% increase in adjusted operating profit to £52.4m. HSS closed 18 "underperforming" branches and four distribution centres this year as part of cost-cutting plans.