Speedy said that after the initial collapse of business when coronavirus lockdown began in late March, trading is now getting back close to pre-Covid levels.
For September 2020, core hire revenue in the UK and Ireland was about 7% lower than September 2019. And the 55.5% utilisation rate for the week ended 2nd October 2020 was only a little shy of 2019鈥檚 55.9%. No staff are on furlough any more.
Control of overhead costs and reduced capital expenditure have resulted in net debt coming down from 拢79.3m to 拢60m over the past six months. All tax payments deferred as part of Covid-19 support measures were repaid during September 2020.
Speedy鈥檚 half-year results for the period to 30th September 2020 are scheduled to be announced on 18th November 2020.
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