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Private sector slowdown affects Speedy Hire
Oct 8 2008 By Alistair Houghton
TOOL hire giant Speedy Hire says it has seen a "significant decline" in revenues from smaller customers as the construction slowdown continues.
Newton-le-Willows-based Speedy, which issued a trading statement today ahead of its interim results next month, said strong public sector spending had remained strong.
But it warned that the decline in commercial and residential building activity had become more pronounced in recent months.
The group expects first-half revenues to be up 22% on last year.
Speedy also said it had cut its workforce by 4% as part of its cost saving plans.
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