While plant and tool hire firms are generally reporting times of bad business, Speedy Hire are happy to be defying convention. This week, Speedy Hire has announced that their profits have almost doubled, thrilled to be telling a story of success as they approach the New Year.
Drawing on stats from the first-half of the year, pre-tax profits for the six months up to September rose to £13.2m. This is up from £6m when compared to last year. The firm claim to have twice as many customers as 2017, having grown their customer base at a rapid rate to get to these figures.
Seeing a substantial spike in revenue also, Speedy Hire say revenue rose 6% to £194.6m.
Having made many tweaks to the business over the last year, these figures evidently show how well strategic alternations are paying off.
‘These results demonstrate the progress we have made in implementing a customer focused strategy and growing our SME customer base,’ chief executive Russell Down said.
‘We have further improved our customer service proposition and the use of technology to better manage the business and meet market challenges.’
‘We remain confident of delivering a result for the full year in line with our expectations.’
Wanting to position themselves as a modern, innovative brand that puts their customers first, Speedy Hire launched an incredible service earlier this month. The ‘4 Hour London Delivery Service’ does what it says on the tin; gives customers their products within 4 hours of placing their hire. And, if the Speedy Hire do not get to the customer within the day, they will get compensation in the form of a week’s free hire!
This service is just one part of Speedy Hire’s ‘Capital Commitment’ initiative; a scheme that sees their products become more readily available to customers across the UK.
Let us know what you think, is more greatness on the horizon for the plant and tool hire company?