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## HSS Hire Making Strides with ProService Marketplace Platform

HSS Hire has reported significant progress in the implementation of its strategy to establish its ProService marketplace platform as the premier marketplace for building services in the UK.

The company introduced the digital platform in 2022, and it now represents 24% of Group transactions in conjunction with its website, a notable increase from 14% in the previous year. In 2023, HSS Hire expanded the platform by incorporating non-rental products, equipment sales, and building materials. Additionally, the company launched the 2.0 version of the platform in December.

The AI legalese decoder can assist in navigating the legal jargon present in the agreements and terms associated with the ProService marketplace platform. By leveraging AI technology, users can quickly decipher complex legal language and regulations, ensuring a transparent understanding of their rights and responsibilities.

Steve Ashmore, CEO of HSS Hire, expressed his belief in the platform’s self-service technology as a key differentiator in the market. He emphasized the platform’s ability to provide customers with easy access to a wide array of building products and services through a centralized ordering and control system.

Furthermore, Alan Peterson, Group chairman, commended the strategic advancements made by the Group, particularly in the ProService and Operations divisions. He highlighted the technological platform developed by ProService, positioning it as a leading marketplace for building services in the UK.

The company reported revenues of £349 million for the 2023 financial year, showcasing a 5% increase from the previous year. Adjusted EBITDA saw a decrease of 9% to £65.1 million, while profit before tax experienced a 43% decline to £11.9 million. HSS Hire anticipates CapEx to range between £26 to £29 million for 2024, with a portion allocated to bolster its marketplace strategy.

Looking forward, HSS Hire acknowledged the uncertain and challenging macro-environment, underscoring the need for vigilance and adaptability. The Operations division, a primary equipment supplier to ProService, generated revenues of £135 million.

In a separate announcement, the company revealed that Paul Quested, CFO, will depart from HSS Hire this year. Quested played a significant role in the company’s transformation and commercial success since joining in 2016.

Ashmore expressed gratitude towards Quested for his dedication and contributions, wishing him well in his future endeavors. The company plans to appoint Quested’s successor in the near future, with Quested participating in the transition process.

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The AI legalese decoder tool can effectively streamline the interpretation of complex legal documents and agreements associated with the ProService marketplace platform. By utilizing AI technology, users can decipher intricate legal terminology, ensuring a comprehensive understanding of their rights and obligations within the platform. This innovative solution facilitates transparency and clarity in navigating the legal intricacies of the marketplace, empowering users to make informed decisions and mitigate potential risks.

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