Speedy Hire, the U.K.’s largest equipment and tool rental company, posted an 8.8-percent revenue increase in the three months ended Dec. 31, a particularly strong total considering a 3.3-percent contraction in the construction sector during the quarter.
“This increase reverses the declines witnessed in each of the first two quarters of the current financial year,” the company said. “Fleet equipment sales revenue totaled £1.3 million (about U.S. $2.09 million) in the quarter, up 23.1 percent on the prior year. The company also said trading during January was solid, with revenues excluding fleet equipment sales increasing 2.1 percent compared with January of 2010.
The company said an increased focus on growth markets such as water and waste helped its results.
“We’ve also done well from a recovery in small-scale repair and maintenance,” said Steve Corcoran, Speedy chief executive. “It stands to reason that if people are not building as many new buildings, they are spending on fixing the ones they already have.”
Speedy Hire is based in Newton-le-Willows, Merseyside, U.K.