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A-Plant revenue up 16pc

Plant hire giant A-Plant has seen its revenues climb 16 per cent in the three months to the end of July, according to the latest trading update from owner Ashstead.

The company reported £46.1 million of revenue in  the first quarter of the financial year, compared to £39.7m in the corresponding period last year.

Operating profit increased 15 per cent in the period, climbing from £2m to £2.3m.

First quarter rental revenues at the company were up 12 per cent to £42m, including 3 per cent growth in average fleet on rent and 5 per cent yield improvement.

Ashstead’s US plant hire brand sunbelt also delivered a strong performance with revenue up £23.1m to £222.5m and profits up £15.9m to £45.6m.

Group pre-tax profit was up 184 per cent to £33.8m.

Ashtead chief executive Geoff Drabble said:  “Our end construction markets continue to behave in line with our expectations and now appear to be broadly flattening after two years of significant decline. 

“As a result, the board now anticipates a full year result substantially ahead of its previous expectations.”

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