HSS Hire slumps to a loss, shuts 134 sites and lays off hundreds of staff

first_img whatsapp HSS Hire slumps to a loss, shuts 134 sites and lays off hundreds of staff Delivering its results for the year ended 26 December 2020, the company said it had shut down 134 of its 234 locations and laid off 300 employees during those 12 months. HSS Hire has failed to make a profit since it was floated on the London Stock Exchange in 2015. However, investors cheered the results and change in strategy, with shares up seven per cent to 21.4p “We are well positioned to capitalise on market opportunities as we continue to build on our differentiated commercial proposition to create the most advanced, customer-centric offer in the tool hire marketplace.” Tool rental firm HSS Hire today reported a full year loss of £23.6m after Covid restrictions caused “unprecedented disruption”. “We have had an encouraging start to 2021, with earnings before interest in the first quarter ahead of 2019 and 2020 levels. Also Read: HSS Hire slumps to a loss, shuts 134 sites and lays off hundreds of staff Tags: HSS Hire Despite a year of disruption, CEO Steve Ashmore remains confident in the company’s outlook for the rest of the year. Share Revenue also plummeted 18 per cent to £269.9m, as its markets felt the strain of unrelenting Covid restrictions. Thursday 29 April 2021 1:30 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBleacherBreaker41 Old Toys That Are Worth More Than Your HouseBleacherBreakerPast Factory”Waltons” Actress Says Magazine Ended Her CareerPast FactoryDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsBrake For It40 New Features In The 2021 Ford BroncoBrake For ItFactableAluminum Foil Uses You’ll Want to KnowFactableLivestlyPlugs Have These Two Holes At The End, Here’s WhyLivestlyBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionMoneyWise.comThe Worst College In Every US State, RankedMoneyWise.com whatsapp Damian Shepherd Also Read: HSS Hire slumps to a loss, shuts 134 sites and lays off hundreds of staff Following the full year update, shares in HSS Hire rose 0.5 per cent as markets opened. Show Comments ▼ last_img read more