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

HSS HireAnnouncement

21/06/2023 07:00

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RNS Number : 3608D  HSS Hire Group PLC  21 June 2023

 

21 June 2023

 

HSS Hire Group Plc

Trading update and AGM statement

 

"Continued momentum and full year outlook unchanged"

 

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

 

The Group has continued to see positive trading momentum in the first five
months of FY23 and remains on track to deliver full year Adjusted EBITA(1) in
line with market expectations.

 

HSS ProService's strategy implementation continues to progress well.  Based
on the early positive results of these strategic initiatives, overhead
investment will be increased to £6.5m in 2023.

 

A further update on the Group's strategy and performance will be provided at
HSS's half year results in September 2023.

 

Steve Ashmore, Chief Executive Officer, commented:

 

"We are very pleased with the Group's progress in 2023, both in terms of
financial performance and the implementation of our strategy.  While we are
mindful of recent commentary regarding a slowdown in certain sectors, we are
confident that our unique technology-driven proposition and flexible cost-base
will enable us to manage any headwinds and deliver on market expectations for
2023."

 

 

-Ends-

 

 

Notes:

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

 

Enquiries:

 

 

 HSS Hire Group plc                           Tel: 020 3757 9248
 Steve Ashmore, Chief Executive Officer                     Email: Investors@hss.com
 Paul Quested, Chief Financial Officer
 Phil Golding, Interim 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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