Higher costs offset revenue rise as CFO resigns

  • HSS Hire Group reports lower pretax profit for 2023
  • Higher costs offset rise in revenue
  • Chief Financial Officer Paul Quested plans to step down
  • Pretax profit for last year was £9.0 million compared to £16.5 million the previous year
  • Revenue for the year rose to £349.1 million from £332.8 million
  • Adjusted earnings before interest, taxes, and amortization fell to £24.3 million from £32.0 million
  • HSS Hire confident that full-year Ebita will meet market expectations
  • Quested to leave the company and resign as board director from Sept. 1
  • Process to appoint a replacement for Quested has begun

HSS Hire Group reported a lower pretax profit for 2023, with higher costs offsetting a rise in revenue. Chief Financial Officer Paul Quested plans to step down from the U.K. supplier of tool and equipment. The company’s pretax profit for last year was £9.0 million compared with £16.5 million the previous year. Revenue for the year rose to £349.1 million from £332.8 million. Adjusted earnings before interest, taxes, and amortization fell to £24.3 million from £32.0 million. HSS Hire remains confident that full-year Ebita will meet market expectations. Quested will leave the company and resign as board director from Sept. 1, and the process to appoint a replacement has begun.

Factuality Level: 9
Factuality Justification: The article provides factual information about HSS Hire Group’s lower pretax profit for 2023, the rise in revenue, and the departure of Chief Financial Officer Paul Quested. The information is clear, concise, and directly related to the main topic without any irrelevant details or bias.
Noise Level: 3
Noise Justification: The article provides relevant information about HSS Hire Group’s financial performance for 2023, including a decrease in pretax profit, a rise in revenue, and the CFO’s plan to step down. It includes specific numbers and details to support the report. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people.
Financial Relevance: Yes
Financial Markets Impacted: HSS Hire Group
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of HSS Hire Group and the resignation of their Chief Financial Officer. There is no mention of any extreme event.
Public Companies: HSS Hire Group (N/A)
Key People: Paul Quested (Chief Financial Officer)

Reported publicly: www.marketwatch.com