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HSS Hire ( (GB:HSS) ) has issued an update.
HSS Hire Group PLC has announced a significant strategic shift through a new five-year supply agreement with Speedy Hire, making Speedy AS the principal equipment supplier to its ProService platform. This move is expected to enhance net margins and be earnings-accretive by 2027. Additionally, HSS is disposing of its asset-heavy division, THSC, to focus on its digital marketplace, with Speedy Hire acquiring a 9.99% stake in the company. This transition aims to streamline operations and improve profitability, positioning HSS as a standalone, cash-generative business.
More about HSS Hire
HSS Hire Group PLC operates in the equipment hire industry, providing a digital marketplace for customer and supplier acquisition through its ProService platform. The company is focused on transitioning to a capital-light, scalable business model across the UK.
Average Trading Volume: 1,255,757
Technical Sentiment Signal: Sell
Current Market Cap: £51.77M
Find detailed analytics on HSS stock on TipRanks’ Stock Analysis page.