Speedy Hire PLC Statement re: Carillion plc (9290B)
January 15 2018 - 11:27AM
UK Regulatory
TIDMSDY
RNS Number : 9290B
Speedy Hire PLC
15 January 2018
Speedy Hire Plc
("Speedy", "the Company" or "the Group")
Carillion
15 January 2018
Speedy, the UK's leading tools, equipment and plant hire
services company, operating across the construction, infrastructure
and industrial markets, notes today's announcement relating to
Carillion plc ("Carillion").
The Group is a supplier of hire equipment and services to
Carillion and is committed to supporting the delivery of projects
as planned. Revenue in the 12 months to December 2017 with all
Carillion entities was c.GBP12.0m, of which c.55% represented core
hire revenue; outstanding debt at 31 December 2017 was GBP2.0m. A
proportion of the group's revenue and debt relates to Joint Venture
arrangements involving third parties which are expected to continue
unaffected.
It is intended that any profit impact of Carillion's compulsory
liquidation will be recorded as an exceptional non-underlying
charge in the income statement for the year ending 31 March
2018.
The impact of Carillion's situation is not expected to be
material to the Group which had net debt at 31 December 2017 of
GBP88.9m. The Group remains on track to deliver a result in line
with expectations for the full year.
Enquiries:
Speedy Hire Plc Tel: 01942 720 000
Russell Down, Chief Executive
Chris Morgan, Group Finance Director
Instinctif Partners Tel: 020 7457 2020
Mark Garraway
James Gray
Notes to Editors: Founded in 1977, Speedy is the UK's leading
provider of tools, equipment and plant hire services to a wide
range of customers in the construction, infrastructure and
industrial markets, as well as to local trade and industry. The
Group provides complementary support services through the provision
of training, asset management and compliance services. Speedy is
accredited nationally to ISO50001, ISO9001, ISO14001 and
OHSAS18001. The Group operates from over 200 fixed sites across the
UK and Ireland together with a number of on-site facilities at
client locations throughout the UK, Ireland and from an
international office based in Abu Dhabi.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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