Join our community of smart investors

Ashtead profits from construction revival

The British tool hire company continues to defy expectations
September 8, 2014

What's new:

• First-quarter pre-tax profits rose 33 per cent

• Management is guiding up analysts' full-year forecasts

• US business rapidly taking market share

IC TIP: Buy at 1018p

Ashtead (AHT) has raised its full-year earnings guidance after strong demand in the US and UK saw its first-quarter profits jump by a third. The tool and construction rental group said in its first-quarter results that its rental revenues grew 22 per cent to £418m, while cash profits rose 30 per cent to £210 - a margin of 46 per cent.

This is subscriber only content
Start your trial to keep reading
PRINT AND DIGITAL trial

Get 12 weeks for £12
  • Essential access to the website and app
  • Magazine delivered every week
  • Investment ideas, tools and analysis
Have an account? Sign in