Speedy Hire Plc announced consolidated earnings results for the year ended March 31, 2013. For the year, the company reported revenue of GBP 340.4 million against GBP 329.3 million a year ago. Operating profit was GBP 20.4 million against GBP 12.6 million a year ago. Profit before tax was GBP 12.8 million against GBP 3.2 million a year ago. Profit for the period attributable to equity holders of the company was GBP 8.7 million against GBP 1.7 million a year ago. Diluted earnings per share were 1.70 pence against 0.33 pence a year ago. Net cash flow from operating activities was GBP 17.9 million against GBP 17.7 million a year ago. Purchase of non-hire property, plant and equipment was GBP 10.8 million against GBP 6.6 million a year ago. Capital expenditure was GBP 70.8 million. EBITDA before exceptional costs was GBP 73.5 million compared to GBP 63.2 million a year ago. Profit before tax, amortization and exceptional costs was GBP 16.8 million compared to GBP 12.4 million a year ago. Underlying revenue increased by 4.3% to GBP 340.4 million compared to GBP 326.4 million a year ago. EBITA up 24.5% to GBP 24.4 million compared to GBP 19.6 million a year ago.Net debt reduced to GBP 72.4 million compared to GBP 76.3 million a year ago. Return on capital (based on EBITA before exceptional items) of 7.9% in the year ended 31 March 2013 compares to 6.0% in the prior year period. Adjusted diluted earnings per share were 2.39 pence against 1.72 pence a year ago. The Board recommended an increased final dividend of 0.31 pence per ordinary share compared to 0.26 pence last year same period. If approved by shareholders at the forthcoming AGM, the final dividend will be paid on August 14, 2013 to all shareholders on the register on June 14, 2013 and will bring the total dividend for the year to 0.53 pence per ordinary share.

Speedy Hire Plc, 2013 Earnings Call, May 15, 2013

Speedy Hire Plc reported revenue results for the fourth quarter and full year ended March 31, 2013. For the quarter, the underlying group revenues were up 0.2% against the prior year, UK&I down 2.2%, International up 55%. For the full year, the company reported underlying revenue increase of 3.7%, UK&I up 1.1%, International up 61%. Net debt at 31 March 2013 was £72.4 million compared to £76.3 million as at March 31, 2012.