Proservice Building Services Marketplace plc
ProService Building Services Marketplace plc (formerly HSS Hire Group plc) is a UK digital marketplace for equipment hire, building materials, fuel, consumables and training services, connecting buyers with hundreds of specialist third-party sellers. In November 2025 the Group completed its transition to an asset-light marketplace model by disposing of its legacy hire-stock business (The Hire Service Company, 'THSC') and entering a five-year Commercial Agreement under which Speedy Hire plc became its principal equipment supply partner. The Group now reports two continuing segments: ProService (the digital marketplace) and Training (health & safety training courses).
6 annual reports read, FY2020 to FY2026
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (6)
FY2027Next report expected 7 Aug 2027
- Open the reportJSONComing soonSixty seconds on the FY2026 report
ProService Building Services Marketplace plc runs a UK online marketplace for equipment hire, building materials, fuel and safety training. In the year to 31 March 2026 revenue fell to £248.1m from £362.8m. The loss before tax grew to £18.3m from £481k. The loss after tax narrowed to £36.8m from £129.7m, largely because the year before included £113.5m of asset write-downs. The report blames the loss of a large contract with Amey, a weak UK construction market and problems starting a new supply deal with Speedy Hire. That deal replaced the hire-equipment business, which was sold in November 2025. Legal fees and other one-off costs, mostly tied to the deal, also added to the loss. Cash at the year end was £13.8m, down from £27.2m, and borrowings fell to £40.5m from £69.0m. Speedy Hire bought £18.2m of new shares. There was no dividend. Management says revenue to the end of July was up 20% on a year earlier, but expects the construction market to stay difficult. The auditor warned of a material uncertainty over the company's future if Speedy Hire ran into serious financial trouble. Loans were refinanced in July 2026.
From the reportevery line sits on the page it namesWhat drove revenueSpeedy Hire Commercial Agreement (Speedy Customer Solutions) replacing THSC as principal rehire/resale supplier from November 2025
Speedy Hire commits to procure its customers' hire, resale and fuel/materials requirements, and training requirements, through the ProService platform
page 10AndNon-hire vertical growth (Fuel, Equipment Sales/materials) alongside core hire
gross margin fell 2.4pts to 20.0% 'due to a change in revenue mix, as we grow our non-hire verticals'
page 11What moved the marginheadwindChange in revenue mix as non-hire verticals grow, and Speedy Customer Solutions margin shared with Speedy Hire
Gross profit margin fell by 2.4% to 20.0% (2025: 22.4%)
page 11AndheadwindAdditional headcount/cost to manage Speedy Customer Solutions revenue ahead of revenue build-out, plus mobilisation challenges causing lost/rejected jobs at lower margin
'increased costs relating to the separation... but also due to challenges mobilising Speedy which resulted in some lost revenue as well as rejected jobs being fulfilled on short notice and at significantly lower margin'
page 12One-offs in the year£6.6m charge: Commercial agreement costs (legal/professional fees connected with the Speedy Hire Commercial Agreement)
page 12What management saidSince the year-end, trading has shown significant momentum... Revenue and Gross profit to the end of July are up 20% year-on-year... Underlying EBITDA performance has been profitable from May 2026, up by approximately 10% year-on-year, with average Underlying EBITDA in June and July annualising to around £9.0m — well on the way to deliver previous management guidance of between £9m and £12m.
page 4After the year end1 June 2026: repayment of £3.0m against the term loan; debt balances including RCF were £37.6m excluding debt issue costs
page 118The dividendAs in the prior year, the Board decided not to declare a final dividend for the period ended 31 March 2026; capital is being prioritised to fund the Group's transformation over the next 12 months. Separately, under the terms of the new Convertible Loan Notes issued to Ravensworth post year-end, the issuer has the right to review prospective dividends, restricting future dividend payments for the duration of the instrument.
page 4Going concern and the auditAuditor BDO LLP issued an unmodified (unqualified) opinion but included a 'Material uncertainty relating to going concern' paragraph: in a severe-but-plausible downside scenario where a specific key supplier/customer (Speedy Hire) breaches its own covenants and ceases trading or materially reduces payments, the Group would breach its own liquidity covenant, which the directors disclosed as a material uncertainty. Other key audit matters: revenue recognition, impairment of Group goodwill/intangibles/tangible fixed assets, and THSC disposal accounting. Audit materiality was set at £1.87m (2025: £2.585m), 0.75% of revenue. Subsequent to year-end the Group completed a refinancing (new ABL facility and Convertible Loan Notes) that reduced the financial risk.
page 61The risks it names first- Sustainability & Climate Change — failure to identify/manage climate risks, maintain net zero/sustainability commitments, obtain reliable seller ESG evidence, or demonstrate community impact, which could weaken stakeholder confidence and limit ability to trade (Owner: Matt Adams, Group Managing Director)p.18
- Strategy — failure to adapt and embed strategy, respond to market/competitor change, or manage material delivery and partnership dependencies, which could weaken competitiveness and long-term sustainable value (Owner: Steve Gaskell, Group Strategy Director)p.18
- Financial — insufficient funding/liquidity, weak trading performance, poor working-capital or finance-process control, buyer default, tax exposure or fraud, affecting stability, compliance and ability to invest (Owner: Greig Thomas, CFO)p.19
- Regulatory, Legal & Compliance — failure to comply with law, regulation, listed-company obligations, internal policies or HSEQ standards, causing financial penalties, legal claims, operational restriction or reputational damage; increased seller-governance exposure under the marketplace model (Owners: Daniel Joll, Group General Counsel/Company Secretary; Matt Adams)p.19
Read from C001040-AR-2026-ch.
FY2024No annual report read for this year
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