HSS Hire (HSS)

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Provider of tool and equipment hire and related services in the UK and Ireland through a nationwide network of over 250 locations.

29-Nov-2017 – 28p – £47.7m – PER 90.3

Q3 Results For The 13 Weeks To End September 2017 – An in-line statement.

Stockopedia still classes this as a Speculative Value Trap. There is huge Net Debt here (at 5x current Mkt Cap) and Broker forecasts are still not showing any signs of improvement. I cannot invest here at present.

14-Feb-2018 – 24.25p – £41.3m – PER n/a

Trading Update For The 12 Months To 30 December 2017 –  In-line with guidance given in August – H2 adjusted EBITA of £8m – £11m. Cost reduction process going well

Still, with so much Debt here it’s just not for me.

21-Nov-2018 – 33.1p – £56.3m – PER 10.4

Q3 Trading Update – Looks like decent progress with leverage down considerably.

Debt is still the issue here for me, I remain Neutral with an eye out for actuals.

4-Apr-2019 – 35p – £60m – PER 14

Results For The 12 Months To End December 2018 – Revenue up 5%, LBT reduced significantly from -£85.2m to -£4.5m.

Complicated results and HUGE Net Debt keeps me well away for now.

23-May-2019 – 36p – £60m – PER 17.1

Q1 Results (To End March 2019)  –  Expects FY EBITDA to be in-line with market expectations.

The Net Debt here just makes this uninvestible for me and why EBITDA here and not real profit?

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