UK's HSS Hire gains on upbeat annual profit outlook

Proservice Building Services Marketplace

02/03/2023 15:28

** Shares of tool and equipment rental company HSS Hire
Group  HSS.L  rise as much as 14.8% to 14p
    ** Stock among top pct gainers on FTSE All Share index
 .FTAS ; at the highest in almost two months
    ** HSS sees FY adj core profit to be marginally ahead of
market expectations, helped by its rental unit
    ** Sees 2023 like-for-like revenue growth of about 12% for
the first eight weeks
    ** Company's FY22 like-for-like revenue rose about 10% over
the prior year, driven by continued strong performance in its
service businesses 
    ** If gains hold, stock set to post its best day since March
15, 2021
    ** Including session's gains, stock up ~9% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))