Ashtead raises guidance

Ashtead Group, the construction equipment leasing firm, has reported record profits as tight cost control and strong demand in the US helped the firm beat analyst expectations.

Ashtead Group, the construction equipment leasing firm, has reported record profits as tight cost control and strong demand in the US helped the firm beat analyst expectations.

In the 12 months to the end of April revenue improved by 20% compared to the previous year, hitting £1,135m, reflecting a strong performance from the US division known as Sunbelt Rentals. The full year figure was just ahead of the consensus forecast of £1,120m.

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