speedy hire

SPEEDY BRINGS INDUSTRY-FIRST ECO HYBRID LIGHTING TOWER TO MARKET

Construction equipment hire and services provider Speedy has introduced the industry’s first plug-in hybrid outdoor lighting tower to the market following a multi-million-pound investment in its UK fleet. The business has added 200 new Speedy V20 Eco Hybrid units to its lighting range through an exclusive partnership with Generac. The

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Speedy rebounds in the second half

Plant and tool hire chain Speedy has posted annual results ahead of expectations, representing a solid come-back from the initial impact of the Covid-19 pandemic. Speedy ended the year to 31st March 2021 with revenues back at pre-Covid levels and has started the current year ahead of 2019. Revenue for

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Latest Issue
Issue 324 : Jan 2025

speedy hire

SPEEDY BRINGS INDUSTRY-FIRST ECO HYBRID LIGHTING TOWER TO MARKET

Construction equipment hire and services provider Speedy has introduced the industry’s first plug-in hybrid outdoor lighting tower to the market following a multi-million-pound investment in its UK fleet. The business has added 200 new Speedy V20 Eco Hybrid units to its lighting range through an exclusive partnership with Generac. The four-in-one units can run directly from the mains, an internal battery, a solar panel hired separately, or on green HVO D+ (hydrotreated vegetable oil) fuel and they can operate automatically in reaction to changing light levels. An external battery pack can power the towers for up to five days at 10 hours per day. Speedy’s £6.3m investment also includes 225 new MX Fuel Lighting Towers, 200 X-Eco Lighting Towers, 100 VB9+ Lighting Towers and 100 solar powered lights to its fleet for contractors to hire across the UK. The 825 new towers from Generac, Trime and Milwaukee will help construction, infrastructure engineering and events contractors to reduce carbon emissions through electric-only operation, while offering users options which run on diesel HVO D+ if projects require. Speedy takes delivery of the new kit ahead of the clocks going back for winter, with shorter nights driving high demand from contractors for lighting towers to keep sites safe. Many of the towers will be used to support major rail development projects across the country, with a large quantity already earmarked for HS2 delivery partners. Andy Connor, group supply chain director at Speedy, said: “The new, sustainable products will enable contractors to reduce carbon footprints across their projects. Working closely with Generac on the launch of the Speedy V20 Eco Hybrid towers is an excellent example of how we’re using our intermediary position in the construction supply chain to introduce new, transformative technology to the market. “The investment represents a significant expansion of our fleet, giving contractors greater access to high-performance and versatile lighting that’s capable of meeting the varied demands of live sites.” Alessandro Rossi, Managing Director at Generac, said: “We’ve worked closely with Speedy to develop this new-to-market specification of lighting tower. They are a great addition to our existing range of light and heavy-duty towers that are built around easy operation and durability. “By calling on Speedy’s contractor relationships and industry expertise, we’ve designed a new lighting tower that effectively meets both the day-to-day needs of site workers, and the overarching sustainability requirements of the industry.” For more information, visit: https://www.speedyservices.com/

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Speedy rebounds in the second half

Plant and tool hire chain Speedy has posted annual results ahead of expectations, representing a solid come-back from the initial impact of the Covid-19 pandemic. Speedy ended the year to 31st March 2021 with revenues back at pre-Covid levels and has started the current year ahead of 2019. Revenue for the year (excluding disposals) was down 11% to £359.4m (2020: £402.5m), while pre-tax profit was down 41% to £12.3m (2020: £20.7m). However, operating profit was up 21% to £17.0m (2020: £14.0m) and net debt was reduced during the year from £79.3m to £33.2m. After a tricky start to the year with the first national lockdown – revenue fell 35% in April 2020 – Speedy recovered progressively, with hire revenue up 4% on a like for like basis in the fourth quarter. Utilisation improved in the second half to 58.8% (2020: 55.9%). Speedy initially closed two-thirds of its network in April 2020 but by September the network was operating at full capacity again following a review of the depot footprint.  This resulted in the permanent closure of 13 depots and the consolidation of a further 22 depots into larger service centres. Approximately 200 staff were laid off. As a result, there were £5.6m of exceptional property related costs and £1.9m of redundancy costs incurred during the year.

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