Ashtead Group plc (AHT.L) reported that its fourth-quarter pretax profit increased to 50.3 million pounds from 31.9 million pounds last year. Underlying profit before tax increased to 52.2 million pounds from 25.6 million pounds last year.
Profit to equity holders of the company improved to 34.1 million pounds or 6.7 pence per share, from 23.5 million pounds or 4.6 pence per share last year. Before amortisation, profit per share was 6.9 pence, compared to 3.9 pence last year.
Revenue increased to 347.6 million pounds from 287.8 million pounds prior year.
For the year, Group revenue increased 20% to 1.36 billion pounds from 1.14 billion pounds. The company said its revenue growth, combined with ongoing operational efficiency and lower financing costs generated record underlying profit before tax of 247 million pounds, compared to 131 million pounds prior year. Statutory profit before tax was 216 million pounds, compared to 135 million pouns last year.
Ashtead said the strong momentum developed in the past year has continued in May. With this momentum established in the business, the Group expects that its profits in the coming year will be ahead of its earlier expectations.
The Board of Ashtead recommended a final dividend of 6.0 pence per share making 7.5 pence for the year.
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