Equipment firm says it has plugged revenue gap caused by contractor’s collapse
Tool hire firm Speedy has shrugged off problems caused by disappearing workloads following Carillion’s collapse with revenue up in the first six months of the year.
Business with the bust firm was worth £12m last year, the firm said in the aftermath of Carillion’s implosion in January, but in a trading update Speedy said income in the six months to the end of September was up close to 7% on the same period last year.
Speedy, which was carrying out work on Carillion’s Midland Met Hospital contract in Birmingham (pictured) as part of a preferred supplier agreement it struck with the firm in 2012, said group revenue was up 6.5%.
It said like-for-like revenue in its UK and Irish markets was flat but added growth in the higher margin SME market had offset revenue lost after Carillion sank.
Speedy will announce its interim results on 14 November.