The board said that the recovery plan to improve the efficiency of operations remains on track with reduced overheads, and rental assets and net debt both lower than at the half-year point.
Like-for-like revenues for the company’s third quarter (October-December 2016) were 10.6% ahead of the previous year, in part benefitting from the timing of the Christmas holiday period.
The integration of Lloyds British Testing, acquired on 19th December, is progressing well, the board said, but it will not have significant impact on underlying profit before tax for the year.
Among the success of Speedy’s customer service initiatives have been the renewal and extension of a supply framework with Carillion Plc, which could be worth up to £45m over three years.
“As a consequence of the improving revenue trend and better operational efficiency, the board anticipates that adjusted profit before tax for the full year will be ahead of its previous expectations,” the board said.
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