PAUL JONES PANMURE GORDON
First quarter results from Ashtead are way ahead of both our and market expectations, with the benefit of additional fleet and increased efficiency being further enhanced by a gentle improvement in US yields.
CAROLINE DE LA SOUJEOLE SEYMOUR PIERCE
Ashtead delivered another excellent quarterly update. Top-line growth was solid with rental revenues up 15 per cent, but a much better than anticipated margin performance at Sunbelt.
JULIAN CATER CANACCORD GENUITY
First quarter pre-tax profit came in at £61.4m, up 82 per cent, which was around 28 per cent ahead of our forecast of £48m. The better than expected top-line performance has dropped through to the bottom line.