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Speedy Hire – “towards the lower end of the board's expectations”. Er, just how ‘low’ was that ‘lower end’ then?...

By Steve Moore | Wednesday 10 April 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Describing itself as “the UK's leading tools and equipment hire services company”, Speedy Hire (SDY) has issued a trading update commencing that, for its year ended 31st March 2024 it “has performed resiliently”, and adding that it “has secured additional annual turnover in excess of £40m across multi-year contracts” which gives confidence for growth in this year and beyond. So what of a share price, already down from 36p in January, currently more than 3% further down at 24.5p?
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