HSS says technology-led rental strategy is working

HSS Hire said its “capital-light, technology-led” rental model delivered strong growth in 2022 with like-for-like revenues up around 10% for the year and EBITDA profits expected to be marginally ahead of expectations.

The company is rolling out its new HSS Pro ‘self-service’ platform as part of its digital strategy and said four large customers had successfully moved to the platform already, with a pipeline of other clients lined up for the coming year.

In its trading update before the April release of its full-year results, HSS said the growth in 2022 was being maintained in the first eight weeks of the new financial year, with trading 12% up year-on-year.

HSS said its technology roadmap was ahead of plan, with an initial roll-out of HSS Pro to four large customers; “This enables our customers to manage all their hire requirements in one place, therefore significantly improving efficiency for both customers and HSS.”

Steve Ashmore, HSS Chief Executive, said; “We are extremely pleased with the progress made in 2022, both in terms of financial performance and the implementation of our technology roadmap.

“Our strong focus on execution continues to underpin our momentum with a very positive start to the new financial year. While we remain mindful of the macroeconomic environment, HSS is well positioned for the year ahead.”