Executive Hire News Executive Hire News
Executive Hire News Executive Hire News Executive Hire News
Executive Hire News
Executive Hire News Home About Executive Hire News Executive Hire News Latest industry news Executive Hire News What's new Executive Hire News Events diary Executive Hire News EHN archives Executive Hire News Executive Hire Show Executive Hire News Advertise Executive Hire News Contact us
Executive Hire News
Latest industry news

June 23, 2020

Speedy finances announced

Filed under: Latest News — EHN Team @ 3:29 pm

Speedy’s financial results for the year ending March 30 2020 make for impressive reading, the company showing positive growth year on year and, we suppose, putting the company in a good place to withstand the conditions that came to bear as the reporting period drew to a close.

Next year’s figures will undoubtedly make interesting reading for that very reason. In the meantime, and looking at the underlying results as an indicator of performance, revenues grew 3.4% YOY, from £389.2m to £402.5m. Adjusted profit before tax demonstrated double digit growth, rising 11.1%, from £31.4m in 2019 to £34.9m, while net debt is reduced 11% YOY, from £89.1m to £79.3m.

In terms of other highlights, Speedy is lessening its reliance on the construction sector and bringing more focus to higher margin SME customers, with revenues therein rising 32.1% YOY. And Rhian Bartlett strengthens the Speedy board, bringing tremendous experience of such high value businesses as Sainsbury’s, Screwfix, eBay and Homebase.

Commenting on the results Russell Down, Chief Executive, said:

“I am pleased to report continued positive momentum across the Group. We have a well invested fleet, diversified customer base and robust balance sheet.

Our priority remains the welfare of our colleagues, customers and the communities we serve. We continue to monitor Government guidance and take action to ensure the safety of our colleagues as we continue to operate to satisfy customer demand.

Whilst COVID-19 will have some financial impact on the business, I am reassured by our performance in the last three months. We are well placed to emerge in a position of strength to pursue our strategic objectives as more normal trading levels return.”

Executive Hire News

Latest industry news archives

Executive Hire News
 Site map
Executive Hire News
Hemming Group Ltd take data protection very seriously. For further information please see our Privacy policy. 
Executive Hire News
Executive Hire News
Executive Hire News
Executive Hire News Executive Hire News