Speedy, the UK's leading tools, equipment and plant hire services company, has reported a rise of almost 10% in revenue with the publication this morning of its latest trading update.

 Including the third quarter from 1 October 2014 to 31 December 2014 and up to the current date,  revenues for the first 9 months of the year increased by 9.9% on the same period last year.

Speedy said its network optimisation programme is on track to be completed ahead of schedule by the end of the financial year with the Group's new National Distribution Centre (NDC) in Tamworth now operational. The NDC and 8 UK Multi-Service Centres will serve as hubs within the Group's national network delivering greater efficiencies in distribution, engineering and repair and asset utilisation.

 In the Middle East, the update said good progress has been made on the accelerated restructuring of the business and withdrawal from general hire. - done to stem losses and build value in the remaining Oil and Gas services business where the mobilisation of major contracts is now all but complete.

Sppedy said that ongoing strong performance of the Group in the UK had given the Board confidence that results for the full year ending 31 March 2015 would be in line with its expectations.

 The company will issue its full year results for the year ended 31 March 2015 on 12 May 2015.