Profits surge at Speedy Hire

Tool hire firm Speedy Hire today unveiled a 16.1% hike in pre-tax profits and trumpeted its success in winning business in new markets such as oil and steel.

Speedy Hire, which has 304 depots around the UK, said it was in “excellent shape” after profits rose to £13m (€19m) during the six months to September 30 and margins remained steady despite the pressures of higher energy costs.