Speedy Hire blames economic downturn as it warns over weaker profits Speedy Hire has warned that profits for the year will be weaker than previously expected, blaming an economic downturn affecting firms.
Speedy Hire also revealed it is facing an impact from delays to Network Rail projects in recent months.
The firm said: “With the challenging start to our final quarter and ongoing macroeconomic uncertainty, the board expects lower than anticipated profitability for the full year.”.
It told shareholders on Monday that positive momentum towards the end of 2024 was “negatively impacted by the widely reported economic downturn”.
However, it said it is taking longer to build up the expected levels of hire revenues in the division.
