Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Speedy Hire in aggressive cost cuts

Source: Reuters - Mon 12th Oct 2009

Tool hire company Speedy Hire said on Monday it was broadly on track to meet its earnings expectations thanks to aggressive cost cutting, but revenue was running below its forecasts.

"With no sign of improvement in private sector spending and increased sensitivity around the sustainability of government spending, there is still significant uncertainty in the current outlook for construction" the firm said in a trading update.

"Whilst trading in recent months has begun to stabilise, risks to the group's revenue forecasts remain on the downside in the short term."

Speedy Hire said first-half turnover was likely to be around 29 percent below the same period last year.

"Any further deterioration in the group's revenue forecasts is unlikely to be offset significantly by additional cost reductions" it added.

Comment on this Story

Be the first to comment on this Story !!

Recommended Items