HSS sees profit in line, shares up 9%

Manchester-based HSS Hire Group plc said revenue this year was higher than the same period last year and full-year profit would be in line with market expectations. 

Its shares rose 9% on the London Stock Exchange. 

The company, which provides tool and equipment hire and related services in the UK and Ireland, said revenue grew 4% over the first five months of the financial year compared with last year, despite the impact of the mild winter on seasonal product performance.

“While remaining mindful of the macro-environment including the impact of the upcoming election and after assuming normal levels of seasonal product performance, HSS anticipates full year Adjusted EBITA to be in line with market expectations,” the company said. 

A further update on HSS’s strategy and performance will be provided at the half year results announcement in September 2024.