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Improved first half for A-Plant

11 Dec 12 Hire company A-Plant has seen a 10% rise in first-half revenues and a 40% leap in operating profits.

For the six months to 31 October 2012, A-Plant revenues reached £103.6m (2011 H1: £93.7m) and operating profit of £7.4m (2011 H1 £5.3m).

A-Plant's first half rental revenue grew by 8% to £92m (2011 H1: £86m) including a 9% growth in average fleet-on-rent (utilisation) offset by a 2% decline in yield.

The numbers were revealed within parent company Ashtead’s interim results, which show that A-Plant, the UK end of the business is becoming increasingly overshadowed by the US operation, Sunbelt. Sunbelt’s first half revenues were up 20% to £576.8m and operating profits up 49% to £160.5m.

Overall, group pre-tax profit for the first half was up 64% to £141m on revenue up 17% to £680m.

“With this momentum clearly established in the business we now anticipate a full year profit ahead of our earlier expectations,” said Ashtead chief executive Geoff Drabble.

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