Speedy Hire: Equity Development
Having last updated the market on 3 February, FY25 outturn has been consistent with commentary at that time. As a result, EBITDA looks to be in line with the prior year with a slightly larger H2 weighting despite a quieter Q4. In our view, Speedy’s share price discounts long-term profitability below current levels and the c.40% NAV discount looks anomalous.
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