Tough year hits Hirepool's revenues

Tough trading conditions have hit Hirepool's bottomline. (Image: Supplied)

Fri, 06 Dec 2024

Equipment rental company Hirepool has slipped to a $5.4 million loss before tax after revenues declined and interest costs skyrocketed.In accounts for the year to June, revenues at Hirepool Group declined 11% to $160m, paired with finance costs increasing 51% to $35.9m.Just a year ago, Hirepool began paying dividends for the first time in a decade, delivering $70.46m to shareholders in 2023.The challenging year – and that dividend payment – resulted in equity declining from $100m to just $26.4m.Notes to the accounts said earnings ha...

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