UK's Speedy Hire bottoms small caps on tepid outlook

Speedy Hire

10/04/2024 08:30

** Shares of construction and industrial tools provider
Speedy Hire  SDY.L  down 7.3% at 23.5p; top loser on the FTSE
small cap index  .FTSC  
    ** Co expects to report FY 2024 results towards the lower
end of expectations
    ** Reports a 5% fall in 2024 group revenue at about 420 mln
pounds ($532.52 mln)
    ** "FY25 growth looks set to be underpinned by costs
dropping out, FY24 contract wins ramping up, annualising 
benefit of supply chain rationalisation, price discipline as 
market volumes recover and ESG initiatives gaining momentum" -
Peel Hunt
    ** As of last close, stock down ~19.4% in the last twelve
months



($1 = 0.7887 pounds)

 (Reporting by DhanushVignesh Babu in Bengaluru)
 ((DhanushVignesh.Babu@thomsonreuters.com;))