HSS Hire Group PLC Contract update
June 12 2024 - 2:00AM
RNS Regulatory News
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.
For further information, please
contact:
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HSS Hire Group plc
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Steve Ashmore, Chief Executive
Officer
Paul Quested, Chief Financial
Officer
David Smith, Director of Group
Finance
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Investors@hss.com
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Teneo
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Tom Davies
Giles Kernick
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Tel: 07557 491 860
Tel: 020 7420 3155
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Numis Securities
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Tel: 020 7260 1000
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Stuart Skinner
George Price
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END
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