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Birmingham Post
Birmingham Post
Business
Jon Robinson

Speedy Hire 'disappointed' as accounts delayed for a second year running

Speedy Hire has said it is "disappointed" after delaying the publication of its full-year accounts.

The Newton-le-Willows-headquartered confirmed the accounts will now be made public on June 22.

The results for the 12 months to March 31, 2023, had originally been expected to be published on June 6.

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In a statement, the company said its new auditor, PwC, has "requested additional time to complete its internal processes in order to finalise its audit report".

It comes after Speedy Hire said it was both "frustrated and disappointed" after delaying its accounts last year. They were audited by KPMG.

Speedy Hire said it continues to expect to report results in line with the board's forecasts.

It also confirmed that on May 26 it extended its existing £180m asset- based finance facility by a further two years to July 31, 2026, on existing terms.

Last month the company ruled out fraud after its investigation into the disappearance of equipment worth over £20m concluded.

The business first discovered the loss following a count of its hire equipment before its 2023 audit.

At the time, the business said that the loss is expected to result in a one-off, non-cash write down of its balance sheet of non-itemised assets for the year to March 31, 2023.

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