In the six months to 31st October 2019 A-Plant generated rental revenue of 拢187m, down 2% on the previous year (2018: 拢191m).聽 Total revenue was up 2% to 拢256m (2018: 拢251m) because more under-used fleet inventory was sold.
A-Plant鈥檚 operating profit for the half-year was down 32% to 拢30m (2018: 拢44m) at a margin of 12% (2018: 18%).
Ashtead chief executive Brendan Horgan said that, after a period of sustained growth, the focus now at A-Plant was on operational efficiency and improving returns.
However, thanks to continued growth of Ashtead鈥檚 Sunbelt operations in North America, group pre-tax profit for the half-year was up 6% to 拢660m (2018: 拢610m) on revenue up 14% to 拢2,681m (2018: 拢2,250m).
鈥淥ur North American end markets remain strong and we continue to execute well on our strategy of organic growth supplemented by targeted bolt-on acquisitions,鈥� Brendan Horgan said. 鈥淚n contrast, the UK market remains challenging and we are therefore refocusing A-Plant on leveraging its platform to deliver long-term sustainable results, while generating strong cash flow.鈥�
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