Ashtead Reports Growth Amidst Profit Dip

Ashtead (GB:AHT) has released an update.

Ashtead Group PLC reports a mixed performance in its first quarter of 2024, with rental revenue increasing by 7% and total revenue by 2%, while facing a decline in profit before taxation by 7%. Despite lower equipment sales and increased costs, the company invested $855 million in capital and $53 million in acquisitions, adding 33 new locations. The firm remains optimistic about meeting its full-year expectations, underpinned by its strategic growth plan, Sunbelt 4.0.

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