RERMAG

HSS Hire Revenues Jump 11 Percent in Fiscal First Quarter

U.K. national rental company HSS Hire posted fiscal first-quarter revenue of£41.9 million (about U.S. $60.1 million) and EBITDA of £9.3 million. Revenue was an 11-percent increase compared with 2009. The company said the increase was driven by a mix of core and seasonal growth across all customer segments.

HSS continued its expansion by opening 12 new stores in 2008 and 2009, including new branches and supercenters. It had two major openings in the first quarter of 2010, in Brighton and Oxford.

HSS continued its focus on service-based offerings as a manager and provider of outsourced equipment and training services for the building maintenance, cleaning and refurbishment sectors. The company is strong in facilities management, rail and industrial segments.

HSS also recently strengthened its core HSS Training business through the acquisition of Hydrex Training earlier this month, increasing its footprint in the health and safety training sector. Also in 2009 HSS launched LiveHire, an online facility for customers.

“We are encouraged that growth is continuing across a range of markets and products,” said chief executive Chris Davies. “We remain focused on generating a strong revenue and cash performance, managing our portfolio and growing our business.”

HSS Hire is based in London.

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