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Thu June 17 2021

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Profits leap for A-Plant

20 Jun 13 Construction equipment hire firm A-Plant saw its operating profits rise by 68% last year.

For the year to 30 April 2013, A-Plant’s operating profit was £12.2m, up from £7.3m the previous year.

This was on revenues up 9%, at £206.1m, up from £188.9m the previous year.

“In difficult market conditions A-Plant performed well and delivered rental revenue growth of 9%.  This was due to 11% more fleet on rent, which was partially offset by a 2% yield decline,” said Geoff Drabble, chief executive of parent company Ashtead.

Ashtead also has a US construction equipment rental business – Sunbelt – that is five times the size of A-Plant. Ashtead reported group revenue up 19% to £1,362m (2012: £1,135m) and pre-tax profit up 87% to a record £246.7m (2012: £130.6m).

In the USA, Ashtead achieved an Ebitda margin of 40.7% and an operating margin of 24.9%.

In the UK, Ebitda margin was 28.0% and operating margin 5.9%.

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