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Sales up at HSS Hire

Published: 3 November 2010
HSS Hire Service Group has reported a 14% increase in revenue to £44.6m for its third quarter.
The tool and equipment hire company, which operates under the banner of HSS Hire, also saw EBITDA rise 31% from £9.2m last year to £12.1m.

Revenues for the nine months to October 2, 2010, were up 13% from £111.9m last year to £126.6m, while EBITDA for the same period rose 29.4% to £29.8m.

Capital expenditure for the first nine months was £12.3m and included £2m brought forward from 2011 to support customer growth.

HSS Hire chief executive Chris Davies said: "The company continues to make very good progress in challenging conditions. This has been achieved by focusing on customers, colleagues, costs and cash. Although we remain cautious on the outlook for the rest of the year and into next, our progress has prompted us to bring forward investment in the business from next year into this."

The group operates from 232 locations nationwide and recently launched a technical apprenticeship scheme for young people.

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