Speedy flags-up hire delays as market weakens | Construction Enquirer News
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Hirer confident £35m HSS deal will improve bottom line
In a trading update today the firm said: “At our interim results on 26 November 2025 we anticipated a continuation of subdued market conditions for the remainder of FY2026. “Market conditions have worsened through Q4 with uncertainty around the UK Budget in November and the recent geopolitical events in the Middle East. The Group has also seen certain customer led delays, affecting hire and service revenues.” Speedy said its new commercial agreement with HSS Proservice is on track to generate £50-55m of revenue and be “significantly earnings accretive in its first full year of trading.” The Group also concluded the ‘Enable’ phase of its Velocity strategy re-positioning the business for future growth. The Board said it now expects FY2026 EBITDA to be around £90m with net debt at 31 March 2026 expected to be £159m, including the £35m invested in ProService. Speedy added: “Notwithstanding our caution around ongoing economic and geopolitical events, the Board remains confident of its outlook for FY2027 and beyond.” The Group will announce its Full Year results on 17 June 2026.
