Its latest financial results, for the year to 31st March 2024, show revenue of £421m, down from £440m in 2023.
Adjusted profit before tax was £14.7m, down 52% from last year (2023: £30.7m).
Pre-tax profits were affected by high operational gearing, increased interest costs and normalised performance of Speedy’s Kazakhstan joint venture, Speedy Zholdas.
The company said its ‘Velocity’ restructuring strategy is going well with continued investment in business transformation despite a ‘challenging’ market.
Chief executive Dan Evans said: “Speedy delivered a resilient financial performance, making positive strategic progress over the year, despite the challenging macro-economic environment.
“We continue to improve our customer proposition, investing in technology and AI capabilities, sustainable products and our people, to position the group strongly for profitable growth. I am particularly pleased with our progress building the foundations for growth, executing the ‘Enable’ phase of our Velocity strategy, which is focused on transformation and operational efficiency.
“The new financial year has started well with performance in line with board expectations and I am pleased that since the year end, we have also secured further contract wins and renewals with key customers,” he added.
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