For the year ended 30th April 2019, A-Plant made an operating profit of 拢62.3m, down 11% on the previous year鈥檚 拢70.2m. Revenue was up 0.7% to 拢475.1m (2018: 拢471.7m).
Its operating margin therefore declined from 14.9% to 13.1%. This was attributed to 鈥渢he higher depreciation charge of a larger average fleet鈥�.
A-Plant generated rental-only revenue of 拢357m, up 4% on the prior year (2018: 拢344m).聽 This was driven by increased fleet on rent with a 1% improvement in yield, mainly due to product mix.聽
A-Plant鈥檚 parent company, Ashtead 鈥� although British 鈥� does most of its business in North America, through the much larger and more profitable Sunbelt equipment rental operations.
Thus total group revenue for the year was up 19% to 拢4.50bn (2018: 拢3.7bn) and pre-tax profit was up 2% to nearly 拢1.1bn (2018: 拢862m).
The group as a whole invested 拢1.6bn of capital into the business (2018: 拢1.2bn) and spent 拢622m spent on bolt-on acquisitions (2018: 拢392m). A similar level of capital expenditure is expected in 2019/20.
In the UK, A-Plant acquisitions during the year included the 拢7m purchase of Astra Site Services, a hydraulic attachment rental business, and the 拢5m takeover of Hoist It.
The average age of A-Plant's fleet is now 38 months (2018: 32 months). It now has 196 outlets (2018: 187) and 3,789 employees (2018: 3,571).
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