Hirepool sees profits from 2015 on debt repayment, merger benefits

Mon, 16 Jun 2014

By Jonathan Underhill June 16 (BusinessDesk) - Hirepool is projecting profits from 2015, after years of losses, having squeezed out costs since buying major rival Hirequip out of receivership last year and using its initial public offering to pay down debt. Hirepool is forecasting a net profit of $25 million for the year ending June 30, 2015, from a pro forma loss of $17.8 million in the current year, according to the company’s prospectus. After adding back finance costs, depreciation and amortisation of Hirepool and Hirequip, pro forma a...

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