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Enterprise

Speedy Hire shares slump to new low as it issues profit warning

The Newton-le-Willows company told the London Stock Exchange this morning that its recent trading had been impacted by a slowdown in demand so far in 2025

Speedy Hire is headquartered in Newton-le-Willows(Image: Speedy Hire)

Shares in Speedy Hire have plummeted to a record low following a profit warning, with the company citing an economic downturn affecting businesses.

The Newton-le-Willows-based firm informed the London Stock Exchange this morning that its recent trading had been hit by reduced demand so far in 2025, as reported by .

The tools and equipment hire company noted that the positive trend seen towards the end of 2024 was "negatively impacted by the widely reported economic downturn".

Speedy Hire stated: "This has resulted in a slower post-December shutdown recovery across the majority of our customer base."

The company also mentioned it has been affected by recent delays in Network Rail projects.

The firm announced: "With the challenging start to our final quarter and ongoing macroeconomic uncertainty, the board expects lower than anticipated profitability for the full year."

Following the release of the trading update, shares in Speedy Hire dropped nearly 30 per cent. The shares are now valued at approximately 19.5p, marking a new all-time low.

This decline follows what was described as "promising" year-on-year growth in the three months leading up to December, with revenues for that month increasing by five per cent.