REG - HSS Hire Group PLC - Trading update and AGM statement

HSS HireAnnouncement

21/06/2022 07:00

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RNS Number : 5504P  HSS Hire Group PLC  21 June 2022

21 June 2022

 

HSS Hire Group Plc

Trading update and AGM statement

 

"Trading momentum continues"

 

HSS Hire Group plc ("HSS" or the "Group") provides the following trading
update ahead of its Annual General Meeting later today.

 

Building on the strong start to the year, our technology-led capital-light
operating model continues to drive growth with Q2 2022 revenue to date 10%
above 2021 levels.

 

The Group continues to manage the ongoing macroeconomic challenges effectively
and Adjusted EBITA1 for the full year is expected to be in line with market
expectations2.

 

The Board will provide further details on Group performance at HSS' 2022 half
year results, expected to be held in September 2022.

 

Steve Ashmore, Chief Executive, commented:

 

"We are very pleased with the Group's progress in 2022, both in terms of
financial performance and the implementation of our technology roadmap. While
we continue to be mindful of the ongoing macroeconomic risks, the impact on
our business is being well managed."

 

-Ends-

 

Notes:

1)        Adjusted EBITA is defined as operating profit before
amortisation, and exceptional items.

2)     Adjusted EBITA market range £30.5m-£32.7m

 

Enquiries:

 

 HSS Hire Group plc                      Tel: 020 3757 9248
 Steve Ashmore, Chief Executive Officer                Email: Investors@hss.com
 Paul Quested, Chief Financial Officer
 Greig Thomas, Head of Group Finance

 Numis Securities                        Tel: 020 7260 1000

 Stuart Skinner / George Price

 Teneo (Public Relations Adviser)        Tel:  07557 491860
 Tom Davies / Charles Armitstead

 

Notes to editors:

 

HSS Hire Group plc provides tool and equipment hire and related services in
the UK and Ireland through a nationwide network and its extensive supply chain
of rehire partners. It offers a one-stop-shop for all equipment through a
combination of its complementary Rental and Services businesses to a diverse,
predominantly B2B customer base serving a range of end markets and activities.
Over 90% of its revenues come from business customers. HSS is listed on the
AIM Market of the London Stock Exchange. For more information please
see www.hsshiregroup.com (http://www.hsshiregroup.com/) .

 

 

Disclaimer:

This announcement contains forward-looking statements relating to the
business, financial performance and results of HSS Hire Group plc and the
industry in which HSS Hire Group plc operates. These statements may be
identified by words such as "expect", "believe", "estimate", "plan", "target",
or "forecast" and similar expressions, or by their context. These statements
are made on the basis of current knowledge and assumptions and involve risks
and uncertainties. Various factors could cause actual future results,
performance or events to differ materially from those described in these
statements and neither HSS Hire Group plc nor any other person accepts any
responsibility for the accuracy of the opinions expressed in this presentation
or the underlying assumptions. No obligation is assumed to update any
forward-looking statements

 

 

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