Latest news with #equipmentRental
Daily Mail
13 hours ago
- Business
- Daily Mail
Speedy Hire profits fall as government puts off rail improvements
Speedy Hire has reported lower profits amid delays in government spending on major infrastructure projects. The equipment rental business posted adjusted pre-tax profits of £8.7million in the year ending March, compared to £14.7million in the previous 12 months. Speedy Hire said the economic environment had remained 'challenging' over the past year owing to delays in government spending on major infrastructure projects. These include Network Rail's plan to invest £45.4billion on improving the UK's railway infrastructure between 2024 and 2029. Hire-related revenues also increased by just £1.4million to £255million, which the firm blamed on its trade and retail segment expanding at a slower-than-anticipated pace. Earnings were somewhat impacted by the early shutdown of contracts in Kazakhstan, where it operates a joint venture. Speedy Hire's overall turnover slipped by 1.2 per cent to £416.6million, due to lower wholesale fuel prices driving its total service sales down by 2.8 per cent to £158million. However, the Merseyside-based company continues to invest in its 'velocity' growth strategy, with £57.5million going towards its hire fleet during the year to support recent contract gains. As part of the strategy, Speedy Hire has also closed eight depots and made some staff redundant in response to the government's hikes in National Insurance contributions and the National Living Wage. Dan Evans, chief executive of Speedy Hire, said: 'We are focused on what we can control, and we will continue to manage our cost base and balance our investment decisions through the economic cycle. We are well-positioned to capitalise on end-market recovery. 'We anticipate seeing the benefit from a promising pipeline of growth opportunities with new and existing customers, alongside increased commitment and clarity on government spending.' Headquartered in Newton-le-Willows, Speedy Hire provides equipment, including air conditioning units, power tools, and rubbish chutes, to the construction sector. It ended the last financial year with net debt £11.8million higher at £113.1million. Since then, the firm has finalised a £225million refinancing of its borrowing facilities. Mark Crouch, market analyst at eToro, said the company 'is stuck in a classic catch-22.' He added: 'To win new contracts, it needs to ramp up capital expenditure, fuelled by debt. 'But with the economy on shaky ground and delays in government spending weighing on major projects, taking on more debt could end up fixing one problem while wrenching open another.' Speedy Hire shares were 0.4 per cent down at 26p on Wednesday afternoon and have slumped by around 57 per cent in the past five years.
National Post
11-06-2025
- Business
- National Post
cieTrade Launches Dumpster and Equipment Rental Solution
Article content New solution expands cloud platform capabilities to support dumpster and short-term rental businesses Article content NORWALK, Conn. — cieTrade, a leading provider of business management software for recycling companies and scrap brokers, announces the launch of its new Dumpster and Equipment Rental Solution, extending its existing cloud platform to serve the needs of dumpster and equipment rental brokers. This new module was designed to address the specific needs of waste equipment rental operations including support for unique processes and workflows, hauler agreements, equipment tracking, service provider logistics, scheduling, automated billing and credit card payment processing and profitability reporting. Article content Article content According to David Haber, founder and principal at cieTrade, 'Many prospective and current clients, otherwise engaged with waste brokerage or recycling, have long expressed an interest in having a dedicated dumpster and equipment rental solution built directly into the cieTrade platform. With the introduction of this module, clients can now avoid workarounds and multiple silos, consolidate operations and improve scalability while obtaining more value from using our platform.' Article content Highlights of cieTrade's Dumpster and Equipment Rental Solution: Article content Centralized Tickets for Total Control Each rental service is assigned a ticket number that consolidates all job details— including pickups, drop-offs, service requests and financials— eliminating fragmented workflows and reducing the risk of errors. A visual calendar dashboard prevents scheduling conflicts and double-booking, while automated customer reminders via text and email help reduce delays and improve service reliability. Real-Time Profitability and Seamless Billing Integrated billing and credit card processing allows businesses to effectively manage customer accounts, while automating payment processing. Third-party hauler payables are managed in consolidation with expense accruals, making it easy to reconcile invoices, avoid double and over billing and provide timely vendor payments. Gross profit visibility enables businesses to view rental agreement profitability before confirmed bookings, helping to protect margins and ensure smarter decision-making. Smart Pricing and Relationship Management Uploading hauler agreements makes on-the-fly pricing during customer calls fast and accurate. Users can also track commissions per ticket, streamlining end-of-month payouts and simplifying rep performance management. Article content The Equipment Rental Solution is now available to existing cieTrade cloud platform clients. Article content To learn more about cieTrade's Dumpster and Equipment Rental solution and its full suite of business management tools, call (203) 323-0074 or visit Article content cieTrade is used by many of the leading recycling and scrap brokers worldwide. They offer a unique business management solution for both (SaaS) cloud and on-premise environments tailored to the needs of bulk commodity traders, recycling plants, pulp and paper companies. Their solution provides the specialized workflows, business processes, shipping documents and financial reports that clients need combined with a support team that offers deep industry knowledge and best practices to help achieve maximum value from the platform. Article content Article content Article content
