A-Plant generated revenue of 拢178.3m in the six months to 31st October 2015 and an operating profit of 拢35.0m. By comparison, for the same period in 2014 it made 拢29.7m profit on 拢165.6m revenue.
Rental only revenue was up 9% to 拢131m (2014: 拢120m).聽 This reflects 8% more fleet on rent and yield up 1%. 鈥淎lthough demand remains good, utilisation is lower than expected so we have responded by lowering our planned level of capital expenditure,鈥� the board said.
It was also revealed that on 28th October 2015 A-Plant acquired GB Access for a 拢6m cash, with contingent and deferred consideration of up to 拢2m payable over the next year. 聽GB Access is a specialist hoist company, which supplied hoists to access the slipform rig during the construction of The Shard.
A-Plant parent company Ashtead, which also owns the much bigger US rental company Sunbelt, reported a first-half pre-tax profit of 拢342.7m (2014: 拢259.2m) on revenue of 拢1,267.5m (2014: 拢987.3m).
This was helped by a 22% rise in Sunbelt鈥檚 rental revenues. Overall, Sunbelt made 拢353.8m operating profit on 拢1,089.2m revenue for the six-month period 鈥� a 32.5% operating margin in the USA, compared to A-Plant鈥檚 19.6% in the UK.
Got a story? Email news@theconstructionindex.co.uk
