Sunbelt Parent Ashtead Expects to Exceed Profit and Revenue Expectations

Ashtead Group PLC Wednesday said its pretax profit and revenue in the second quarter and first half both rose on the back of an increase in rental revenue, and it expects its full year results to come in ahead of its expectations.

December 10, 2014

London South East

Ashtead Group PLC Wednesday said its pretax profit and revenue in the second quarter and first half both rose on the back of an increase in rental revenue, and it expects its full year results to come in ahead of its expectations.

The FTSE 100-listed industrial equipment rental company said its pretax profit for the second quarter to October 31 was GBP141.7 million, up from GBP110.4 million a year earlier. For the first half to the end of October, pretax profit rose 33% to GBP259.2 million from GBP207.8 million.

Revenue rose 24% to GBP529.4 million in the second quarter, up from GBP439.2 million, pushing first half revenue up to GBP987.3 million from GBP849.7 million.

Underlying rental revenue in the second quarter rose to GBP477.9 million from GBP392.2 million, with first half underlying rental revenue up to GBP895.6 million from GBP765.4 million.

For more about Ashtead's financial performance...

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