HSS Hire loses key customer Amey, shares slide
![HSS Hire Group | Sharecast graphic / Josh White dl hss hire group plc aim industrials industrial goods and services industrial support services professional business support services logo 20230427 1504](https://img.s3wfg.com/web/img/images_uploaded/3/f/dl-hss-hire-group-plc-aim-industrials-industrial-goods-and-services-industrial-support-services-professional-business-support-services-logo-20230427-1504_620x350.jpg)
HSS Hire Group
7.98p
13:59 18/06/24
4.59%
0.35p
HSS Hire tanked on Wednesday as it announced the loss of a key customer.
FTSE AIM All-Share
777.89
14:05 18/06/24
n/a
n/a
Support Services
11,380.83
14:04 18/06/24
0.92%
103.36
The tools and equipment hire firm said that following a retender process, Amey informed the group it had decided to move to another supplier for the provision of its equipment rental managed service contract.
The supplier agreement will end in early December subject to any transitional services that HSS may agree with Amey.
The agreement, which began in December 2015, accounted for about 7% of group revenue and 10% of group adjusted EBITA in 2023.
HSS said it will provide an update on trading alongside its annual general meeting on 26 June.
At 0820 BST, the shares were down 9.5% at 7.60p.