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Tue October 19 2021

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Speedy on course

17 Oct 12 Tool hire firm Speedy reports group revenues for the six months to 30 September up 5.3% on the same period last year.

In a trading update, the company said that the revenue growth, combined with efficiency initiatives, had enabled the company to improve profitability, operating margins and return on capital employed.

Most of the growth was overseas, supporting oil & gas projects in the Gulf. UK revenues were up 3.2%.

Chief executive Steve Corcoran said: "Continued implementation of the group's strategy and a range of self-help measures have seen Speedy make further progress during the first half.  Although market conditions remain challenging the board is confident of meeting its expectations for the financial year and continues to look to the future with confidence."

Half-year results will be reported in full on 14 November 2012.

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