HSS Hire backs full-year earnings guidance

HSS Hire backed its full-year earnings guidance on Wednesday ahead of its annual general meeting.

The tool and equipment hire firm said it has continued to make strategic progress with both the HSS ProService and HSS Operations business plans and delivered a "solid" financial performance for the first five months of FY24.

Revenue grew 4% compared to the same period a year earlier despite the impact of the mild winter on seasonal product performance, it said.

"While remaining mindful of the macro-environment including the impact of the upcoming election and after assuming normal levels of seasonal product performance, HSS anticipates full year adjusted EBITA to be in line with market expectations," the company said.

Half-year results are due in September.

At 1020 BST, the shares were up 9% at 7.95p.