HSS Hire Group PLC Trading update and AGM statement (5504P)
21 Juni 2022 - 8:00AM
UK Regulatory
TIDMHSS
RNS Number : 5504P
HSS Hire Group PLC
21 June 2022
21 June 2022
HSS Hire Group Plc
Trading update and AGM statement
"Trading momentum continues"
HSS Hire Group plc ("HSS" or the "Group") provides the following
trading update ahead of its Annual General Meeting later today.
Building on the strong start to the year, our technology-led
capital-light operating model continues to drive growth with Q2
2022 revenue to date 10% above 2021 levels.
The Group continues to manage the ongoing macroeconomic
challenges effectively and Adjusted EBITA1 for the full year is
expected to be in line with market expectations2.
The Board will provide further details on Group performance at
HSS' 2022 half year results, expected to be held in September
2022.
Steve Ashmore, Chief Executive, commented:
"We are very pleased with the Group's progress in 2022, both in
terms of financial performance and the implementation of our
technology roadmap. While we continue to be mindful of the ongoing
macroeconomic risks, the impact on our business is being well
managed."
-Ends-
Notes:
1) Adjusted EBITA is defined as operating profit before amortisation, and exceptional items.
2) Adjusted EBITA market range GBP30.5m-GBP32.7m
Enquiries:
HSS Hire Group plc Tel: 020 3757 9248
Steve Ashmore, Chief Executive Officer Email: Investors@hss.com
Paul Quested, Chief Financial Officer
Greig Thomas, Head of Group Finance
Numis Securities Tel: 020 7260 1000
Stuart Skinner / George Price
Teneo (Public Relations Adviser) Tel: 07557 491860
Tom Davies / Charles Armitstead
Notes to editors:
HSS Hire Group plc provides tool and equipment hire and related
services in the UK and Ireland through a nationwide network and its
extensive supply chain of rehire partners. It offers a
one-stop-shop for all equipment through a combination of its
complementary Rental and Services businesses to a diverse,
predominantly B2B customer base serving a range of end markets and
activities. Over 90% of its revenues come from business customers.
HSS is listed on the AIM Market of the London Stock Exchange. For
more information please see www.hsshiregroup.com .
Disclaimer:
This announcement contains forward-looking statements relating
to the business, financial performance and results of HSS Hire
Group plc and the industry in which HSS Hire Group plc operates.
These statements may be identified by words such as "expect",
"believe", "estimate", "plan", "target", or "forecast" and similar
expressions, or by their context. These statements are made on the
basis of current knowledge and assumptions and involve risks and
uncertainties. Various factors could cause actual future results,
performance or events to differ materially from those described in
these statements and neither HSS Hire Group plc nor any other
person accepts any responsibility for the accuracy of the opinions
expressed in this presentation or the underlying assumptions. No
obligation is assumed to update any forward-looking statements
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END
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