News Item: Speedy Extends Same-day Delivery Promise

Plant and tool hire chain Speedy has extended the number of products covered by its four-hour delivery promise.

Customers hiring any of the 350 most popular products across most of Britain and some parts of Ireland will receive delivery within four hours, if orders are placed before 3pm (Monday to Friday), Speedy promises.

If Speedy fails to deliver within four hours, it promises a week's free hire on the product.

The quick delivery promise, which Speedy calls its Capital Commitment, began in London in May 2018 and rolled out nationwide in January 2020 (although was paused during the Covid-19 crisis).

Earlier publicity did not make clear that the original offer extended to just 52 of its top tool and equipment products. Now the offer is extended to 350 products.

Access and lifting products, compressors, generators, hand tools, survey equipment and lighting towers have been added to the service.

The offer does not extend to the Isle of Wight or the Scottish Highlands. Most of Northern Ireland is excluded, except for Belfast (BT1-BT21) and Newtownards. In the Republic of Ireland it is available in Dublin and Waterford only.

Speedy chief executive Russell Down said: "We've seen demand for our products and services grow since sites re-opened following lockdown, and the new project pipeline is continuing to build.

"Before the Covid-19 pandemic, thousands of our customers across the UK relied on our four-hour delivery promise to ensure they could keep projects on track. Now more than ever, product delivery and collection are critical capabilities that the industry needs in its supply chain, as projects demand tools and equipment quickly and at short notice.

"We look forward to providing our customers with this new expanded fast and reliable service as work volumes increase."

Speedy Hire plc also issued a trading uodate to shareholders today. UK and Ireland core hire revenues for September to date are approximately 8% down on last year. Group revenues (pre disposals) for the year to date are 23% down. However, utilisation rates have improved steadily throughout the first half as activity levels have increased and capital expenditure has been reduced. At 4th September 2020, utilisation rates in the UK and Ireland were 52.9% (2019: 54.6%).