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A trading update from Speedy plc today reports that business is progressing as planned and in the five months to August 2022 hire revenue is 6% ahead of last year.
Any recent weakening in market conditions has been offset by new contract wins from major customers starting in October. And when Speedy put up its price in April 2022 there was no discernible decline in business.
As previously reported, chief executive Russell Down is stepping down on 30th September, to be succeeded by Dan Evans, who has been with the company for 14 years and is currently chief operating officer.
Russell Down said: "Revenue for the first five months of the financial year has remained strong, with new contract wins effective from the second half also secured. Whilst the continuing macroeconomic uncertainty and inflationary pressures may impact trading performance, our diverse end market exposure, broad customer base and strong balance sheet provide resilience against changes in market conditions."
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