HSS Hire maintains positive trading momentum

HSS Hire Group updated the market on its trading in the first five months on Wednesday, ahead of its annual general meeting, indicating positive trading momentum in the first five months of the financial year.

The company remained on track to meet market expectations for full-year adjusted EBITA.

HSS ProService, the strategic initiative aimed at enhancing service offerings, reportedly made significant progress.

The early results of those initiatives were described by the board as encouraging, leading to a decision to increase overhead investment to £6.5m in 2023.

HSS said it was planning to provide a more detailed update on its strategy and performance at the half-year results announcement scheduled for September.

By investing in overhead infrastructure, HSS aims to further enhance its service capabilities

“We are very pleased with the group's progress in 2023, both in terms of financial performance and the implementation of our strategy.,” said chief executive officer Steve Ashmore.

“While we are mindful of recent commentary regarding a slowdown in certain sectors, we are confident that our unique technology-driven proposition and flexible cost-base will enable us to manage any headwinds and deliver on market expectations for 2023.”

At 1232 BST, shares in HSS Hire were up 1.15% at 13.91p.

Reporting by Josh White for Sharecast.com.