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Ashtead Group Q2 Profit Rises; Says Confident In Medium Term - Quick Facts

Ashtead Group plc (AHT.L), a British industrial equipment rental company, reported Tuesday that its second-quarter profit before taxation grew 3 percent to 356 million pounds from last year's 336 million pounds.

Earnings per share went up 9 percent to 57.9 pence from last year's 52.1 pence.

Underlying profit before taxation was 371 million pounds, compared to 348 million pounds a year ago. Underlying earnings per share were 60.5 pence, compared to prior year's 54.0 pence.

Revenue for the second quarter climbed 12 percent to 1.40 billion pounds from last year's 1.20 billion pounds. Underlying rental revenue grew 10 percent from last year to 1.28 billion pounds.

Further, the company announced that its interim dividend increased by 10% to 7.15p per share.

Looking ahead, Ashtead's Chief Executive Brendan Horgan said, "Our business continues to perform well in supportive North American end markets, while we have taken decisive strategic action to refocus our UK business in the challenging market conditions. Thus, except for the UK and a currency headwind, we expect results to be in line with our expectations and the Board continues to look to the medium term with confidence."

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