- HSS Hire Group is hosting an event in London today to update bondholders and equity investors on the outcome of the group's strategic review.

HSS Hire Group presented its third quarter trading update on 29 Nov. Since the arrival of Steve Ashmore as chief executive in June, the group has undertaken an extensive review, looking across every aspect of the business with the aim of returning the Group to historic levels of performance.

It said the analysis examined in great detail, the profitability of each customer, product and branch in a way that has never been done before.

Ashmore said: 'HSS is a business with attractive qualities and significant potential.

'Our Strategic Review, the most detailed in the company's history, has provided us with deep insights on HSS's trading performance and enabled us to devise a clear and actionable set of priorities.

'We have made progress over the past six months to return the business to operating profitability, providing us with a platform from which to make further improvements.

'Our specialist tool hire and rental businesses are performing well and the additional cost savings we have identified will see a material reduction in leverage in 2018.

'As we look further ahead, we are excited by the Group's potential and confident in our plans.'

At 9:10am: [LON:HSS] HSS Hire Grp Plc share price was +1.38p at 30.5p

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