For the six months to 31 October 2011, A-Plant鈥檚 total revenues reached 拢93.7m, up from 拢82.4m for the same period in 2010. Operating profit was up from 拢4.2m last time to 拢5.3m, while Ebitda climbed from 拢24.4m to 拢26.2m.
First half rental revenue for A-Plant grew by 11% to 拢86m (H1 2010: 拢77m) including 2% growth in average fleet on rent and 6% yield improvement.
Group revenue for parent company Ashtead, which includes the much larger Sunbelt operations in the USA, was up 24% to 拢575.5m (H1 2010: 拢484.3m).
Pre-tax profit nearly trebled to 拢84.4m, up from 拢30.0m for H1 2010.
Sunbelt鈥檚 numbers were boosted by the first time inclusion of Empire Scaffold, acquired in January 2011.
Ashtead聽 chief executive Geoff Drabble said: "We are delighted to report record first half pre-tax profits of 拢84m in end markets which remain well below previous peaks.
鈥淢arket share gains, the on-going structural shift to rental in the US and operational efficiency meant we delivered a very strong performance across a broad range of metrics despite end construction markets being at a cyclical low point.聽 This is encouraging for both the short-term, where we expect a continuation of current trends, and the longer term where, when cyclical recovery comes, we expect to benefit significantly.
鈥淲ith our robust debt structure, substantial capacity to fund fleet growth and the well-established momentum in the business we now anticipate a full year profit substantially ahead of our earlier expectations."
Got a story? Email news@theconstructionindex.co.uk
