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May 24, 2018

HSS gains momentum

Filed under: Latest News — EHN Team @ 12:14 pm

In a trading update on its performance for the 13-week period ended 31 March 2018, HSS reports adjusted EBITDA growth of 64.3% at £13.8m, compared with the same period in 2017 (£8.4m).

The company also reports underlying core hire revenue growth of greater than 4% and a £6.9m reduction in net debt since the year end.

Chief Executive Officer Steve Ashmore states that the implementation of a new supply chain model from the beginning of April is delivering annualised savings of approximately £11m. “We have started 2018 positively and our recovery is now well established and gaining momentum. The business is trading well delivering adjusted EBITDA that is materially higher than the prior year and driving margin progress through cost savings and growth in core rental revenue,” he said.

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