Speedy Hire PLC Sale of surplus land (5023R)
29 Ottobre 2019 - 12:58PM
UK Regulatory
TIDMSDY
RNS Number : 5023R
Speedy Hire PLC
29 October 2019
Speedy Hire Plc
("Speedy")
Sale of surplus land
29 October 2019
Speedy, the UK's leading provider of tools and equipment hire,
and services to the construction, infrastructure and industrial
markets has sold its surplus land to Bellway Homes Ltd. Acquired in
1994, this land, in the Birmingham area, had Green Belt
restrictions removed in 2017.
The consideration of GBP4.0m was paid in cash in full at
completion today. The land had a book value GBP0.1m and the
resultant profit, after any related costs, will be recognised as an
exceptional item in the full year accounts to 31 March 2020.
Commenting on the sale Russell Down, Chief Executive, said:
"We are pleased to have completed the sale of this asset to a
natural new owner in the shape of Bellway Homes Ltd. The disposal
makes strategic and financial sense for Speedy and the proceeds
will be used to benefit the core operations, in line with our
capital allocation priorities."
Enquiries:
Speedy Hire Plc Tel: 01942 720 000
Russell Down, Chief Executive
Chris Morgan, Group Finance Director
MHP Communications Tel: 0203 128 8778
Oliver Hughes
Andrew Jaques
Inside Information: This announcement contains inside
information.
Forward looking statements: The information in this release is
based on management information. This report includes statements
that are forward looking in nature. Forward looking statements
involve known and unknown risks, assumptions, uncertainties and
other factors which may cause the actual results, performance or
achievements of the Group to be materially different from any
future results, performance or achievements expressed or implied by
such forward looking statements. Except as required by the Listing
Rules and applicable law, the Company undertakes no obligation to
update, revise or change any forward looking statements to reflect
events or developments occurring after the date of this report.
Notes to Editors: Founded in 1977, Speedy is the UK's leading
provider of tools, equipment and plant hire services to a wide
range of customers in the construction, infrastructure and
industrial markets, as well as to local trade and industry. The
Group provides complementary support services through the provision
of training, asset management and compliance services. Speedy is
certified nationally to ISO50001, ISO9001, ISO14001 and OHSAS18001.
The Group operates from over 200 fixed sites across the UK and
Ireland together with a number of on-site facilities at client
locations throughout the UK, Ireland and from an international
office based in Abu Dhabi.
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END
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October 29, 2019 07:58 ET (11:58 GMT)
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