Profit warning at UK renter Speedy

UK rental company Speedy said its full year profits were expected to be lower than anticipated because of a “challenging” start to the final quarter of its financial year, whichj ends on 31 March.

It said rental revenue was 5% higher year-on-year in December, but the positive momentum had been negatively impacted “by the widely reported economic downturn.”

In a trading statement to 31 January, Speedy reported a “slower post-December shutdown recovery across the majority of our customer base.

“Further, the delay in CP7 rail works has also had an impact on trading in the final quarter but remains a significant opportunity for the group into FY2026.”

CP7 denotes the five-year investment plan for the UK’s rail network, running from April 2024 to March 2029.

The company said; “The group has a promising pipeline of growth opportunities with new and existing customers, and should benefit from increased government spending on infrastructure projects.

“Nevertheless, with the challenging start to our final quarter and ongoing macroeconomic uncertainty, the Board expects lower than anticipated profitability for the full year.”