Hurricane Sandy’s ill wind is good news for Ashtead
Tuesday 05 March 2013
Cleaning up the devastation left by
Hurricane Sandy last November has led to booming revenues in the US, plant-hire
firm Ashtead said today.
Shares jumped 8% or 40.25p to 564.75p as Ashtead — which rents everything from small tools to large diggers — more than doubled pre-tax profits to £53.8 million in the three months to January and raised its full-year expectations.
Ashtead saw revenues from its US arm Sunbelt rise 27%, largely thanks to the recovery operations.
“With this momentum clearly established in the business, we now anticipate a full-year profit ahead of our earlier expectations,” said Geoff Drabble, the company’s chief executive.
Aside from the one-off, Ashtead — which trades in the UK under the A-Plant banner — has benefited in recent years as customers shy away from buying and maintaining expensive equipment and hire it instead.
Business prospects look so good that the firm is pulling forward around $100 million (£65.8 million) in fleet expenditure previously planned for the next financial year into the final quarter of this year.
- 3 Oil tanker with $100 million cargo goes missing off Texas coast
- 4 George Galloway attacked on Notting Hill street by man 'shouting about the holocaust'
- 5 Brother and sister, Christopher Buckner and Timothy Savoy, arrested for 'committing incest after watching 'The Notebook''
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Oil tanker with $100 million cargo goes missing off Texas coast
George Galloway attacked on Notting Hill street by man 'shouting about the holocaust'
Brother and sister, Christopher Buckner and Timothy Savoy, arrested for 'committing incest after watching 'The Notebook''
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
- < Previous
- Next >
iJobs Money & Business
£50000 - £80000 per annum + benefits+bonus+package: Harrington Starr: Data Sci...
£450 - £500 per day: Orgtel: SAS Business Analyst, London, Banking, Credit Ris...
£32000 - £38000 Per Annum Bonus, Life Insurance + Other Benefits: Clearwater P...
£200 - £250 per day + competitive: Orgtel: KYC Analyst, Key Banking Client, Bi...