Speedy Hire shrugs off December snow storms

14th Feb 2011 11:24

Plant hire specialist Speedy Hire said sales were up by 8.8% in the three months to 31 December despite the bad weather towards the end of the period.The company pointed out that the strong growth came in spite of the 3.3% contraction in the construction sector during the quarter. "This increase reverses the declines witnessed in each of the first two quarters of the current financial year," Speedy Hire said. "Fleet equipment sales revenue totalled £1.3m in the quarter ended 31 December 2010, up 23.1% on the prior year."It added that trading during January was also encouraging, with revenues excluding fleet equipment sales up by 2.1% from January 2010. Broker Panmure Gordon said that today's statement "reinforces our view that Speedy is over the worst, with top line growth and market share gains despite the lack of any broad-brush pick up in markets."