Speedy Hire Share Discussion Threads

[baddeal] 31/5/2022 17:31

Downs not that confident, he's leaving!

[tole] 31/5/2022 14:35

https://www.thetimes.co.uk/article/speedy-hire-profits-jump-to-boost-annual-dividend-pcg586jz8Speedy Hire profits jump to boost annual dividendTimes Business ReporterTuesday May 31 2022, 12.01am BST, The TimesSpeedy Hire is navigating the storms of rising inflation and supply chain pressures, with profits and the annual dividend both risingThe burgeoning confidence at Speedy Hire was strengthened still further yesterday when the tools and equipment provider reported soaring annual profits and expressed confidence that there was more to come.Speedy Hire said that its pre-tax profit had risen by more than 250 per cent in the year to the end of March to £29.1 million, from £8.3 million previously. Its revenue rose by 16.4 per cent to £386.8 million and it declared an annual dividend of 2.2 pence per share, up 57 per cent from 1.4p a year ago.Its full-year figures came after the group revealed plans last November to rent out of tools and smaller plant and machinery to the public after a trial at several B&Q DIY stores. The company typically rents its construction equipment to British infrastructure contractors, housebuilders and thousands of small building companies and tradespeople. It has more than 3,700 staff and about 200 depots across the UK and Ireland. It also has international operations serving the oil and gas sectors in the Middle East and Kazakhstan.Speedy Hire said its latest financial year had got off to an "encouraging" start, with underlying revenue 8 per cent ahead of the most recent comparative period. Volume growth and price increases had more than offset inflationary cost pressure, it said, adding that it was confident of achieving its expectations for 2022-23.David Shearer, 63, its chairman, said: "I am pleased with the performance this year and that revenues are now ahead of the pre-Covid-19 period. We have a strong market position allowing us to take advantage of positive end markets and deliver continued sustainable growth. The board looks forward with confidence for the year ahead." Shares in Speedy Hire rose almost 2p, or 4.2 per cent, to 47¾p last night.

[cravencottage] 30/5/2022 20:05

Directors must be confident in Speedy's prospects to increase divi and continue with the share buybacks.

Yielding 4% plus should attract institutional support.

[thechaiman] 30/5/2022 17:35

could do with director buying now

[tole] 30/5/2022 16:53

Demand still strong at Speedy HireThe tool, equipment and hire company looks well positioned for growth in spite of cost pressuresMay 30, 2022By Jemma SlingoGroup has invested heavily in hire fleetInflation expected to hit overheads Shares in Speedy Hire (SDY) have lost a third of their value over the past year. When you look at the group's performance, however, this doesn't seem fully justified. While the equipment company had a difficult lockdown, revenue and profit before tax now exceed pre-pandemic levels, and demand for tools and building equipment shows no sign of waning.Speedy Hire has invested around £70mn in its hire fleet over the past 12 months in order to meet increased demand and to mitigate the effect of increased supplier lead times. This has inevitably affected its financial position: net debt has doubled to £67.5mn since last year. Meanwhile, its operating cash flow has sunk by 60 per cent to £28.6mn and it has just £2mn of cash on its balance sheet. Despite this, the group's net debt-to-Ebitda ratio remains low at 0.9 times, and utilisation rates have increased to 57 per cent. The group has also managed to boost its gross profit margin from 55.6 per cent to 57.2 per cent, driven by a strong hire division. There are obvious concerns. Inflationary pressures on salaries, utilities and fuel are expected to bite in 2023. Meanwhile, the group's decision to end its apprenticeship scheme last summer won't help with potential labour shortages, although it has set a target to have at least 5 per cent of its employees on some kind of "earn and learn" programme within five years. So far, price increases have managed to offset the effects of cost inflation on both overheads and new equipment purchases. Many analysts also consider Speedy Hire's end markets to be strong, despite concerns about the outlook for UK construction. "We note that [the] government appears highly committed to its infrastructure programme and we are confident that housebuilders are likely to aim to grow volumes in 2023 even if house price inflation slows," analysts at Liberum said. This sentiment is echoed by Panmure Gordon, which believes the group is likely to see further upside from the government's levelling up agenda. A cautious buy.

[cravencottage] 30/5/2022 10:48

Commenting on the results Russell Down, Chief Executive, said: " I am pleased to report results that reflect the strong performance we have achieved this year. We have continued to progress our strategic goals by taking market share, developing a first class digital customer experience, prioritising our people and leading on ESG. This performance is testament to the hard work and dedication of all my colleagues. "We have made an encouraging start to FY2023 with volume growth and price increases more than offsetting cost pressures. Against a backdrop of positive end-markets and our unique leading service and ESG customer propositions, the Board remains confident that we will meet its FY2023 expectations."

2023 EPS forecast according to II shares is 5.39p

Interesting.

[thechaiman] 30/5/2022 07:42

anyone know what price liberum have us at

[cravencottage] 30/5/2022 06:35

hopefully all those " Short" will run for the hills..

[tole] 30/5/2022 06:19

Current trading and outlook: o Encouraging start to FY2023 with underlying revenue up c.8%o Volume growth and pricing initiatives are more than offsetting inflationary cost pressureso Key end markets expected to deliver growth through demand-driven volume improvements, particularly from major infrastructure and energy projects including HS2 and nuclearo The Board remains confident of achieving its FY2023 expectations

[my retirement fund] 30/5/2022 06:18

EPS of 4.13p and 2023 target on track, looking rather cheap here now I must say. Good read across to HSS which looks even cheaper.

[niklol] 29/5/2022 16:05

Great! Thanks.
How could you tell that please?

[thechaiman] 29/5/2022 15:46

it said it was a buy

[niklol] 29/5/2022 15:02

At 16.43 on 27th there was a transaction which went through of 850,000 £391.000.
I wonder if it was a buy or a sell???

[thechaiman] 29/5/2022 14:06

any predictions for tomorrow

[rumbers2] 26/5/2022 12:20

The only positive amid all this misery is that the purchase of 18 million shares has so far cost no more than £10 million.

With £20 million yet to spend its feasible they could buyback a further 40 million if the share price were to remain sub 50p.

That would reduce the total number of shares in issue by over 10% to 470,000,000 which in hindsight might look like money very well spent.

[mortimer7] 26/5/2022 10:02

Anyone else feel the downturn in share price over past 12 months has gone far enough now & could mondays results be the catalyst for it to turn higher?

[mortimer7] 26/5/2022 09:57

It is the intention that this £30 million Share Buyback Programme will be completed by the time of Speedy's 2022 AGM which is to be held no later than 30 September 2022

[derwent4] 26/5/2022 09:34

when does the share buy back finish

[gbh2] 24/5/2022 07:55

Just wondering if the following has had an impact on how KPMG execute their Audits?

"KPMG fined £3.37m by watchdog over Rolls-Royce audit failures"

[money4nuttin] 23/5/2022 16:06

Indeed they do but even they can't tell the future of today's new news giving reasons for a delay of 6 days.

[46maxon] 23/5/2022 15:51

Investor’s chronicle say tomorrow

[derwent4] 23/5/2022 13:38

no 30th may

[gbh2] 23/5/2022 13:27

Are the results tomorrow?