The company has emerged from a heavy cost-cutting programme and managed to make a £9.2m profit in the second half of the year, reversing a £9.9m loss in the first part of the financial year.
The turnaround was helped by a 10% rise in hire rates and the benefits of a hard cost-cutting programme, which has seen staff levels and outlets slashed by around a third.
Speedy also benefitted from offloading its loss-making accommodation hire business to Elliott Group.
The overall outcome from the tale of two halves was an adjusted pre-exceptional loss of £0.7m on turnover flat at £354m.
Ishbel Macpherson, chairman, said: “We have established a solid platform from which to build and, whilst we remain alert to the continuing uncertainty in the economy, we expect to make further progress in 2011/12.”