Equipment provider announces pre-tax profit of £13m and 21% rise in turnover to £120m.

Equipment provider Speedy Hire reported a 16% jump in profits for the first half of the year as new safety legislation boosted demand for its products.

Pre-tax profits rose to £13m in the six months to September 30, from £11.2m in the same period last year. The plant and tool hirer also reported a 21% rise in turnover from £98.9m to £120m.

Speedy attributed the growth to the impact of safety legislation on the industry, together with picking up work in new markets including oil, steel, industrial services and specialist manufacturing.