Join our community of smart investors

Ashtead remains on track

Despite coronavirus fears gripping the markets, the equipment rental group is guiding to full-year results in line with expectations
March 3, 2020

Ashtead’s (AHT) growth story continued in the third quarter of 2019 – rental revenue rose 8 per cent year on year to £1.12bn at constant currencies, although slower than 10 per cent in the second quarter.

IC TIP: Buy at 2,434p

North America remains the driver even though growth is moderating. Nonetheless, 13 per cent rental only revenue growth to $3.9bn (£3.1bn) in the nine months to 31 January is comfortably within the full-year target range of 11-15 per cent.