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On 9th April 2020, Speedy Hire Plc, which is an Industrial Support Services firm based out of the United Kingdom, posted an updated on the effect of Covid-19 outbreak on its business. The company primarily highlighted that they were continuing to monitor the government’s guidelines around the lockdown as well as the overall covid-19 situation in the United Kingdom, so that they can ensure the safety of its employees as well as its customers, and are continuing to operate for the purpose of providing essential services.
The company, in its trading update, mentioned that due to the covid-19 pandemic, some of the company’s segments are operating at reduced activity levels, while the company is overlooking the increased demand for certain product, while managing the other products in its portfolio that have a reduced demand because of the above mentioned lockdown and the general transmission of the disease.
Speedy Hire Plc
Speedy Hire Plc (LON:SDY) is the United Kingdom based company, operating within the industrial transportation sector, that primarily engages in providing industrial grade equipment, construction material as well as transportation services to the Infrastructure and construction sector in the UK. The company’s products are available for hire on a project on project basis as well as are available for sale depending on the demand of its customers. The company provides equipment like capital commitments, communications, Powered Access, Compressors, Generators and Pumps, Lighting, Site Management, Railway services and a host of other equipment. The company is presently operating a 4-hour delivery service throughout the country to help the frontline NHS Staff to fight against the Covid-19 Pandemic.
SDY Covid-19 update
The company has had to take certain actions to protect its business from the negative impact of the Covid-19 and to preserve resources and cash during this phase. It has been reported that the employees, as many as possible, are currently working from home, some of whom have also been furloughed and are on the government’s wage support programme that has been accessed by the company, while the salaries have also been reduced by approximately 20 per cent. The company also stated that the final dividend, which is generally paid in the month of August, is being reconsidered by the management of the company and an update on this will be announced after the full extent of the Covid-19 damage is properly understood.
In terms of its guidance for FY 2020, the company has announced that it will be suspending all previously made announcements on guidance and estimates for the financial performance of the year because the situation is unclear, and the exact impact is still being gauged.
The company also highlighted as a part of its update that despite the prevailing poor market conditions, the cash collection during the period has remained strong, though the company assured that they would be able to stretch their operations under current debt agreements with this kind of a cash collection.
SDY Share Price Performance
Source: Thomson Reuters, on 09-04-2020 after the closing of the London Stock Exchange Market
At the time of close of market on 9th April 2020, Speedy Hire Plc’s stock was at a price of GBX 59.20 on the London Stock Exchange market, an increase of around 7.64 per cent or GBX 4.20 in value, as compared to the price of the company’s stock at the time of the close of the market on the previous trading day. The company’s market capitalisation (M-Cap), at the time of reporting, has been stated to be at a value of GBP 289.73 million in reference to the current stock price.
In the previous one year, since April 11, 2019, when the share was trading at a price of GBX 54.20 at the time of market closure, the Speedy Hire Plc share had yielded a positive return of around 9.23 per cent in value. The share has also yielded a positive return of around 6.86 per cent in value since the price of the company’s stock stood at GBX 55.40 at time of the close of the markets on October 11, 2019 in the previous six months. The share of the company though yielded a negative return of approximately 9.20 per cent in value in the previous month since market closure on March 11, 2020, when the share price was reported to be GBX 65.20 per share. The company’s 52-week price range has been GBX 34.60 (the 52-week low price) and GBX 88.00 (the 52-week high price). The firm's share beta stood at a value of 1.30 when this report was being written.
To present the competitive scenario, with respect to the prevailing business conditions in the United Kingdom, we have discussed the stock price performances of the competitors of the company that are listed on the London stock exchange,
Ashtead Group Plc (LON:AHT) Share Price Performance
At the time of close of market on 9th April 2020, Ashtead Group Plc’s stock was trading at a price of GBX 1956.00 on the London Stock Exchange market, an increase of around 1.88 per cent or GBX 36.00 in value, as compared to the price of the company’s stock at the time of the close of the market on the previous trading day. The company’s market capitalisation (M-Cap), at the time of reporting, has been stated to be at a value of GBP 8.626 billion in reference to the current stock price.
The company’s stock price has yielded a negative return of approximately 18.97 per cent from year to date (9th April 2020). The stock price has, however yielded a positive return of approximately 0.85 per cent in the last one month. The company’s 52-week price range has been GBX 1010.00 (the 52-week low price) and GBX 2797.00 (the 52-week high price).
Travis Perkins Plc (LON:TPK) Share Price Performance
At the time of close of market on 9th April 2020, Travis Perkins Plc’s stock was at a price of GBX 979.20 on the London Stock Exchange market, an increase of around 5.02 per cent or GBX 46.80 in value, as compared to the price of the company’s stock at the time of the close of the market on the previous trading day. The company’s market capitalisation (M-Cap), at the time of reporting, has been stated to be at a value of GBP 2.350 billion in reference to the current stock price.
The company’s stock price has yielded a negative return of approximately 2.22 per cent from year to date (9th April 2020). The stock price has yielded a negative return of approximately 14.30 per cent in the last one month. The company’s 52-week price range has been GBX 573.80 (the 52-week low price) and GBX 1841.00 (the 52-week high price).
Morgan Sindall Group Plc (LON:MGNS) Share Price Performance
At the time of close of market on 9th April 2020, Morgan Sindall Group Plc’s stock was at a price of GBX 1268.00 on the London Stock Exchange market, an increase of around 3.43 per cent or GBX 42.00 in value, as compared to the price of the company’s stock at the time of the close of the market on the previous trading day. The company’s market capitalisation (M-Cap), at the time of reporting, has been stated to be at a value of GBP 557.75 million in reference to the current stock price.
The company’s stock price has yielded a negative return of approximately 21.73 per cent from year to date (9th April 2020). The stock price has yielded a negative return of approximately 23.89 per cent in the last one month. The company’s 52-week price range has been GBX 1032.00 (the 52-week low price) and GBX 1980.00 (the 52-week high price).
SHI Plc (LON:SIG) Share Price Performance
At the time of close of market on 9th April 2020, SIG Plc’s stock was at a price of GBX 20.92 on the London Stock Exchange market, an increase of around 3.98 per cent or GBX 0.80 in value, as compared to the price of the company’s stock at the time of the close of the market on the previous trading day. The company’s market capitalisation (M-Cap), at the time of reporting, has been stated to be at a value of GBP 119.02 million in reference to the current stock price.
The company’s stock price has yielded a negative return of approximately 82.99 per cent from year to date (9th April 2020). The stock price has yielded a negative return of approximately 57.11 per cent in the last one month. The company’s 52-week price range has been GBX 17.50 (the 52-week low price) and GBX 153.90 (the 52-week high price).
Comparative YTD Share Price Chart of AHT, TPK, MGNS and SHI
Source: Thomson Reuters, on 09-04-2020 after the closing of the London Stock Exchange Market
Comparative One Month Share Price Chart of AHT, TPK, MGNS and SHI
Source: Thomson Reuters, on 09-04-2020 after the closing of the London Stock Exchange Market
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