Tool hire business HSS suffered failing demand in run-up to general election
TOOL hire business HSS lost over a quarter of its market value as it paid the price for falling demand in the run-up to the general election.
HSS struggled in the run-up to the general election
Shares in the company plunged 48½p to 134p as analysts cut their earnings forecasts in the wake of second-quarter trading falling short of expectations.
HSS admitted customer activity had dropped in April and May “across a number of sectors” and there was also reduced demand for cooling equipment, although order books have been building and the firm believes it can continue to take market share.