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Ashtead results show profit down
15:45 17 Jul 2002
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Provisional full year results for A-Plant's parent company, the
Ashtead Group, show profit (before tax, goodwill and exceptional
items) down to £28.9m from £41.2m in 2000/2001 on
turnover up by 6% to £583.7m.
Once £44.4m of exceptional items and goodwill amortisation are taken into account, the figure falls to a loss of £15.5m against a profit of £11.1m last year.
A-Plant's profit almost halved to £13m on turnover down by 3.9% to £187m. Capital expenditure on the rental fleet was £26.7m (against £67m in 2000/2001) while the fleet depreciated by £40m.
Its US operation, Sunbelt Rentals, increased revenue by 10.6% to £382.2m, while the operating profit (less finance lease interest) was £56.9m, giving an operating margin of 14.9%. Sunbelt's capital expenditure was £67m (against £146.3m in 2000/2001) and 23 new sites were opened.
Once £44.4m of exceptional items and goodwill amortisation are taken into account, the figure falls to a loss of £15.5m against a profit of £11.1m last year.
A-Plant's profit almost halved to £13m on turnover down by 3.9% to £187m. Capital expenditure on the rental fleet was £26.7m (against £67m in 2000/2001) while the fleet depreciated by £40m.
Its US operation, Sunbelt Rentals, increased revenue by 10.6% to £382.2m, while the operating profit (less finance lease interest) was £56.9m, giving an operating margin of 14.9%. Sunbelt's capital expenditure was £67m (against £146.3m in 2000/2001) and 23 new sites were opened.
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