Ashtead profit up 5% to $229.49 millionStaff Writer | June 13, 2017
Ashtead Group said Tuesday strong rental revenue growth and favorable impact of sterling devaluation has led to 5% growth in fourth-quarter pretax profit.
Ashtead profit up 5% Ashtead has declared a final dividend
Rental revenue, before certain exceptional costs, for the quarter grew 11% to GBP727.4 million.
"Looking forward, our markets remain good and spring has seen a good seasonal uplift in fleet on rent, with record levels of physical utilization for this time of year," said Chief Executive Geoff Drabble, adding that the board continues to look to the medium term with confidence.
Ashtead has declared a final dividend of 22.75 pence per share, giving a total payout of 27.5 pence for the fiscal 2017 year, up 22% from 22.5 pence paid a year ago. ■