Speedy Hire is confident its new commercial agreement with HSS Proservice will help stem losses which continued to mount up in latest results.
The Competition and Markets Authority cleared the way for the deal last week which will see Speedy supply hire kit through the HSS Proservice digital market place.
The agreement is expected to generate at least £50m of revenue for Speedy in its first year.
Latest Speedy Hire results for the six months to September 30 2025 show pre-tax losses increased to £15.9m from £2.2m last time as turnover remained flat at £205.2m from £203.6m.
The company said subdued general market conditions were expected to continue into 2026 but the Proservice move would help the firm offset the underlying conditions.”
Chief Executive Dan Evans said: “We were delighted to have achieved significant further strategic progress in the first half, including the transformational commercial agreement with ProService.
“This commercial agreement is now live and expected to generate £50-55m of annualised revenue and significant earnings accretion in its first full year after integration.
“Despite subdued markets, we are gaining market share and winning significant long-term contracts, leaving us far better positioned to take advantage as and when market conditions improve.
“As a result of our strategic progress, recent contract wins and the commercial agreement with ProService, we expect to offset the ongoing subdued market conditions and the Board’s expectations for FY2026 remain unchanged. We look forward to FY2027 with confidence.”
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