Sunbelt Parent Raises Profit Expectations for 2012

Ashtead, which makes 80 percent of revenue from its U.S. business Sunbelt Rentals, has raised profit expectations for the year to April 2012 three times as customers, unwilling to spend in slow construction markets, turn to renting.

Industrial equipment hire firm Ashtead, parent of U.S.-based Sunbelt Rentals, said it would deliver further growth next financial year, after a record 12 months in which profit is expected to quadruple as it prospers from cash-strapped clients needing to rent rather than buy.

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