In a strategic pivot, Speedy says that its relationship with B&Q has 鈥渆volved to a more digitally focused model鈥�.
Speedy has pulled out of B&Q stores but B&Q customers can still hire Speedy products online when they are in B&Q stores (or anywhere else presumably).
The venture and the U-turn has cost Speedy 拢2m, which will be taken as a one-off cost in the accounts for the just-completed financial year (ending 31st March 2024).
In a trading update ahead of releasing the full result in June, Speedy said that the group had 鈥減erformed resiliently against a challenging market backdrop and wider macroeconomic uncertainty鈥�.
Total group revenue of 拢420m for the year was down 5% on the previous year.
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