REG - HSS Hire Group PLC - Contract update

HSS HireAnnouncement

12/06/2024 07:15

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RNS Number : 0443S  HSS Hire Group PLC  12 June 2024

This announcement contains inside information

 

12 June 2024

HSS Hire Group Plc

Contract update

 

 

HSS Hire Group Plc ("HSS" or "the Group") announces that, following a retender
process it has been notified by Amey Plc of its decision to move to another
supplier for the provision of its equipment rental managed service contract.
The supplier agreement will end early December 2024 subject to any
transitional services that HSS may agree with Amey. The agreement, which
commenced in December 2015, accounted for approximately 7% of Group revenue
and 10% of Group Adjusted EBITA in 2023.

 

HSS will provide an update on trading alongside its AGM on 26 June 2024.

 

-Ends-

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated by the Market Abuse Regulation
(EU) No.596/2014, as it forms part of UK law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"). Upon the publication of this announcement, this
inside information is now considered to be in the public domain. The person
responsible for the release of this announcement on behalf of HSS Hire Group
plc for the purposes of MAR is Daniel Joll (Company Secretary).

 

Notes to editors

HSS Hire Group plc provides tool and equipment hire and related services in
the UK and Ireland through a nationwide network of Group companies and
third-party suppliers. It offers a one-stop shop for all equipment through a
combination of its complementary rental and re-hire business to a diverse,
predominantly B2B customer base serving a range of end markets and activities.
Over 90% of its revenues come from business customers. HSS is listed on the
AIM Market of the London Stock Exchange. For more information please
see www.hsshiregroup.com (http://www.hsshiregroup.com/) .

 

 

For further information, please contact:

 

 HSS Hire Group plc
 Steve Ashmore, Chief Executive Officer   Investors@hss.com (mailto:Investors@hss.com)

 Paul Quested, Chief Financial Officer

 David Smith, Director of Group Finance

 Teneo
 Tom Davies                                                        Tel: 07557 491 860

 Giles Kernick                                                     Tel: 020 7420 3155

 Numis Securities                                                  Tel: 020 7260 1000
 Stuart Skinner

 George Price

 

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