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Brokers Tips

Expansion flattens HSS Hire's profits

02 July 2015

The cost of expansion is set to drag on first-half profits for HSS Hire.

Shares in recently listed HSS Hire (HSS) tumbled by just over a quarter on the day the tool hire specialist announced its first-half cash profits this year would be flat on 2014. Second-quarter trading was marginally below expectations, according to the group's six-month trading update. Management blamed this on weaker activity in larger client accounts and falling demand for cooling equipment. However, customer activity moved towards more usual levels in June and management expects high-single-digit organic revenue growth for the second quarter.

Expansion flattens HSS Hire's profits

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