Ashtead (AHT) exited its April year-end in decent shape, as its fourth-quarter profit growth outstripped the year as a whole. The equipment rental group was gathering momentum at a time when many industry rivals were finding the going tough. A rebound in North American construction markets helped matters, and the relative flexibility of the group's capital model was cited as one of the main reasons it has been faring better than many of its peers.
The group's progress is reflected in the fact that the share price has risen by a fifth over the past 12 months, so it's perhaps unsurprising that Ashtead non-executive chairman Chris Cole, a former chief executive of WSP Group, recently decided to liquidate just under a fifth of his holding, realising £296,500 in the process.