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HSS Hire – 2018 results, “significant progress”?

2019-04-04 06:00:24

Previously writing on UK and Ireland tool and equipment hire and related services provider HSS Hire (HSS) in November with its shares at 33p, I concluded at least until there’s more concrete evidence of why to have confidence in the sustainability of the balance sheet, I’ll retain this on the bargepole list. Today results for the company’s year ended 29th December 2018 emphasising “we made significant progress against our strategic priorities and delivered the highest adjusted total EBITDA in the group's history” – and the shares are currently just above 35p…


HSS Hire – argues “we look ahead with confidence”. Hmmm…

2018-11-21 08:50:26

HSS Hire (HSS) has updated emphasising “good operational progress and trading drive continued profitable growth” and “expect full year EBITDA to be marginally ahead of market expectations”. The shares though, at 33p, are currently slightly down – and at the same level as reached last December. Hmmm…


HSS Hire – 2017 results argue “strong platform to build upon”. Is there?

2018-04-06 00:05:46

HSS Hire Group (HSS) has announced results for its year ended 30th December 2017 emphasising “trading momentum and strategic progress give strong platform to build upon”. Previously updating in February though, I questioned what about the balance sheet?


HSS Hire – “Trading and Strategy Progress Update”, what about the balance sheet?

2018-02-14 07:50:36

Trading and Strategy Progress Update announcement from tool, equipment hire and related services group HSS Hire (HSS) includes that “since HSS last updated the market on 29th November 2017, trading has been positive with the group maintaining solid momentum. The board is pleased to reaffirm that full year performance is in line with guidance given in August, of H2 adjusted EBITA of between £8m and £11m”. The shares have responded currently 3% higher to 25p – though I note this compares to more than 80p at the start of 2017 and 210p on February 2015 IPO!...


HSS Hire – “decisive actions return group to profitability”. Really?

2017-11-29 08:00:26

A trading update announcement from tool and equipment group HSS Hire (HSS) is headlined “Decisive actions return Group to profitability” - and the shares have currently responded higher. However, down from above 80p at the commencement of 2017, they are only up 1p presently on the day at 29p…


HSS Hire – half-year results, why are the shares slumping on the announcement after an update last month?

2017-08-30 07:00:19

With the company having updated in early July on its performance to 1st July, I note shares in HSS Hire (HSS) amongst today’s biggest fallers – on the back of a results announcement for its half year to… 1st July!...


HSS Hire – half-year results, appalling balance sheet, also of interest to Speedy Hire shareholders…

2016-09-01 00:15:01

UK and Ireland tool, equipment and related services group, HSS Hire (HSS) has announced results for the 27 weeks to 2nd July 2016 – and the shares are currently circa 8% lower, to below 80p, in response. With the results also coming as 19% shareholder in the group, Toscafund, prepares for a General Meeting dust-up with the board of fellow hire group Speedy (SDY) - which it has urged to consider merging with HSS - the following reviews…


Earnings Preview: Is HSS Hire Living on the Edge?

2016-08-28 03:05:24

HSS Hire (HSS) is scheduled to release interim results on Wednesday. This bear target of our colleague Lucian Miers has had a solid share price performance so far this year, but can it last?


Another look at HSS Hire Group PLC - I stay short

2016-04-09 08:01:59

As I have pointed out before, it is a very good discipline for investors, when looking at a company, to ask themselves what they would pay for the business before looking at what value the market ascribes to it.


HSS the risk reward favours the bears

2016-01-10 06:54:28

Next week will mark the first anniversary of the announcement by private equity owned HSS Hire Group (HSS) of its intention to float on the London Stock Exchange.


HSS Hire Group - stone cold: strong short, shares will collapse

2015-09-09 00:50:25

I've struggled to get much in the way of borrow in HSS Hire Group (HSS), the tool and equipment rental company, capitalised at £100 million. This is a pity, as barring a perfunctory dead cat bounce as the suckers pile in, I've convinced myself it's heading considerably lower. 


More EBITDA shenanigans (and a lousy IPO): the case of HSS Hire

2015-08-26 02:49:05

My formative investment years were so long ago that I remember the daily thump that announced the arrival of the physical research pile from a variety of investment banks.  As a callow youth I used to devour these publications believing them to be a route to insight and riches.  The latter was true – although almost exclusively not to the readers of such ‘research’.  The reason for this walk down memory lane was that I was reminded by an article from Tom Winnifrith of a report I kept by my desk for months titled something like ‘why EV/EBITDA is the most important statistic for fund managers today’.  Suffice to say the quality of my investment insights all those years ago improved materially after I had a desk tidy-up…


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