The tool and kit specialist issued a trading update on Thursday showing utilisation rates are now 52.9%  compared to 54.6% last year.

Core hire revenues for September to date are 8% lower than last year while staff numbers have reduced 7% to 3,222.

The trading recovery has seen Speedy enhance its four-hour delivery commitment to provide customers with faster access to hire equipment.

Customers will now be able to use the service to hire the company’s 350 most popular products for delivery nationwide within four hours.

The service has been relaunched with a wider product offering after it was paused in March to focus on supporting the NHS throughout the initial stages of the Covid-19 pandemic.

Russell Down, Chief Executive, said: “We are pleased to report that in recent months we have seen an ongoing recovery in trading as customers have returned to work.

“The decisive actions we have taken during the pandemic to enhance the resilience of our business and the strength of our balance sheet leave us well placed to respond to improving trends and pursue our strategic objectives.”