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nearly three times . the company'sla rgest*evearc quisitiono,f LCH GeneratorsL imited,w as concludedin May 2006,f ollowedb y the acquisitiono f LiftingG ear HireL imitedi n October 2006 . the companyc ompletedit s firstf ully earo f operationsin Northernl relanda nd the Republico f lreland . SpeedyH ire'sp umpsb usinessw as launchedin stand-aloned epotsw ith a new product offer o e new Group-wide'P eopleP lan'w as introduced . eXponsionco ntinuedw ith the openingo f 20 new greenfieldd epots . Centreso f Excellencew ere openedi n access,c oncretinga nd lightp lanta nd towable products . the firstp haseo f a new Group-widei ntegratedlT systemw as rolledo ut . the third share offer as part of the company's SAYE (Save As You Earn) shareholdesr chemew as introducedw, itha pproximateloyn e-thirdo f employees engaged. Tool Hire Division Performance The Tool Hire Division saw total revenue groMh of 16.2% in 2006/07 and like-for-like revenueg roMh of 7,3%.T his was significantlya heado f the generalh ire marketg rowth of 6%. The division generated record levels of revenue and profit and further increased its market share. Ten greenfieldd epotsw ere added to SpeedyH ire'sn ationaln etworkp rovidingg reater coveragea nd improvedc ustomers ervice.N ew operationsi n Dublina nd Belfastp rovide a solid platform from which to drive further groMh in Northern lreland and the lrish , Republic. The company hopes to grow further through a mix of additional greenfield depots and via acquisitions. Speedy Hire continues to target growth through new product areas and by identiflTing growtho pportunitiesfr om within its existingp roductr ange,s uch as concreting,a ccess and engineeringl.t has also developedi ts overalls erviceo fferingb y expandingi nto nonhire relateda ctivitiese, .g. traininga nd consumablep roducts ales. During the year, the company also increased its commitment to Speedy on-site depots (i.e. depots on customers' sites), which have become an integral part of its offering, and now number 14 across the UK. By becoming an integral part of the site team, the companyf eels betterp lacedt o serve the full rangeo f tradesa nd sub-contractorsw, hilst also improvingi ts clientr elationshipth rought he deliveryo f site specific' tool box talks' and the provision of tailored products and services for hire or sale. Page 19 Withini ts AnnualR eportf or 2007, SpeedyH ire identifieds ome of the Tool Hire Division's operationahl ighlightas s follows: . the openingo f 10 new greenfieldd epots o fl totalo f 14 on-sited epotsw ith majorc onstructionc ompanies o now Centreso f Excellencee stablishedto increases pecialisationc,u stomerf ocus and operationael fficienciesin access,c oncretinga nd lightp lantp roducts . the launcho f a 'Let'sc leart he air'd ustc ampaignto instrucet mployeesa nd |
