Speedy Hire's revenue on track to meet expectations

15th Apr 2015 09:12

Equipment rental and plant hire services group Speedy Hire said it expected annual revenue to be in line with expectations.The London-listed group said revenue for the 12 months to the end March is forecast to meet market expectations, while adjusted pre-tax profit is poised to be slightly better-than-expected and ahead of consensus.In a statement released on Wednesday, the company added it was no longer involved in the general hire sector in the Middle East, after suffering substantial losses in the region and had sold its business in Oman and closed its offices in Egypt and Qatar.Speedy said its successfully restructured oil and gas services unit achieved breakeven in March and it was negotiating with a potential buyer.Speedy Hire shares were up 1.46% to 72.29p at 09:51 on Wednesday.