HSS Hire Reports Revenue Growth Amid Losses

HSS Hire has reported revenue growth of 13.5% to £166 million as the firm managed to reduce its losses in the first six months of the year.

The Group made a pre-tax loss of £9.8m for the 27-week period ended 02 July, a £4.3m change from the same period in 2015 where it lost £14.1m due to costs associated with its recovery plan.

In its results, the company revealed its new National Distribution and Engineering Centre (NDEC) was now supporting 50% of its branch network. However, net debt rose £20.6m to £238.7m.


John Gill, Chief Executive Officer, said: "We are confident our new National Distribution and Engineering Centre will position us well for scale and volume growth and, combined with our e-commerce platform and national branch footprint, will further enhance our customer proposition by transforming availability within our sector.

"The Board believes we are well positioned to take advantage of, and continues to look for, opportunities to increase scale for the benefit of customers and shareholders."

(LM/CD)