LONDON (dpa-AFX) - Ashtead Group (AHT.L) said it delivered a strong fourth-quarter resulting in fiscal year Group rental revenue rising 18% and underlying pre-tax profit growing 17%, both at constant exchange rates. The Board of Ashtead Group continues to look to the medium term with confidence.
For the fiscal year ended 30 April 2019, statutory profit before tax was 1.06 billion pounds compared to 862 million pounds, prior year. Earnings per share was 165.4 pence compared to 194.4 pence. Group underlying operating profit increased to 1.26 billion pounds from 1.04 billion pounds, up 19% at constant exchange rates. Group profit before amortisation of intangibles, exceptional items and taxation was 1.11 billion pounds compared to 927 million pounds, prior year. Underlying earnings per share was 173.4 pence compared to 126.9 pence.
Group revenue for the year increased 21% to 4.50 billion pounds from 3.71 billion pounds, with strong growth in the US and Canadian markets. At constant exchange rates, revenue rose 19%, for the fiscal year. Underlying rental revenue was 4.14 billion pounds compared to 3.42 billion pounds, last year.
The Board recommended a final dividend of 33.5 pence per share making 40.0 pence for the year, an increase of 21%. The final dividend will be paid on 13 September 2019 to shareholders on the register on 16 August 2019.
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