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Sunday, 9 June 2013

Speedyhire (SDY) - Buy

Long-term investors in tool rental company, Speedyhire PLC saw the price slump in 2007 when it dropped from its high of around 350p to 10p two years later. The slowdown in the UK construction industry was the cause and by 2009 the price dipped under 20p. It has been a slow recovery but the firm now seems to be well on the way to knocking itself back into shape. In a cost-cutting ‘self-help’ styled programme it has shut smaller outlets to give more attention to its larger superstores and multi-service centres, and reduced the head-count.

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