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HSS announces last year's results

Published 11th June, 2014 by Neil Nixon

HSS announces last year's results

HSS Hire Group has announced its full-year financial results for the 52 weeks ending 28 December 2013.

Financial highlights include:

• 24% increase in revenue to £226 million (2012: £182 million).
• 36% increase in EBITDA to £55 million (2012: £40 million).
• 27% return on assets (2012: 20%).

Alan Peterson, chairman of HSS Hire Group, said: “2013 was a strong year for HSS. The team achieved strong organic growth across all our customer groups, product ranges, geographies and services; this was complemented by our strategy to acquire promising specialist businesses whilst also reinvesting in our future growth. We are confident that we will continue to enhance value by achieving our target of occupying number one or two positions in our key markets. At the same time, we will continue to monitor opportunities to add further growth and value through selective acquisitions.”

Chris Davies, chief executive officer at HSS Hire Group, said: “I am pleased with the financial performance during 2013. Over the last 12 months we have continued to deliver on our targets and produce industry-leading return on assets. This strong performance is the result of our highly diversified customer base and focus on growth over the long-term - underpinned by a consistent strategy of optimising the network, driving operational efficiency, investing in people and systems and delivering added-value services.”

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