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Ashstead Group results
00:00 25 Jul 2001
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Ashtead Group has posted preliminary results showing comparable
(adjusted) operating profits for the year to 30 April up by 21% to
£58.9m - its ninth consecutive increase. The increase belies a
mixed picture with the US division tripling its operating profit
while the UK has declined.
After aquiring BET US division a year ago, and integrating it with Ashtead's Sunbelt operation, operating profit in the States almost tripled from £21.5m to £61.2m. However, in the UK the operating profit dropped from £35.8m to £26.8m despite a 7% increase in turnover to £199.7m.
Commenting on this, chief executive George Burnett said: "In the UK we need to recover from this year's setback with controlled investment and management in a difficult market."
Reader enquiry no: 106
After aquiring BET US division a year ago, and integrating it with Ashtead's Sunbelt operation, operating profit in the States almost tripled from £21.5m to £61.2m. However, in the UK the operating profit dropped from £35.8m to £26.8m despite a 7% increase in turnover to £199.7m.
Commenting on this, chief executive George Burnett said: "In the UK we need to recover from this year's setback with controlled investment and management in a difficult market."
Reader enquiry no: 106
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