LONDON (dpa-AFX) - Industrial equipment rental company Ashtead Group plc (AHT.L) reported Tuesday that its first-quarter profit before taxation declined 38 percent to 192 million pounds from 305 million pounds last year.
Earnings per share fell 35 percent to 32.0 pence from 49.1 pence a year ago.
Underlying profit before taxation was 208 million pounds, compared to 319 million pounds a year ago. Underlying earnings per share were 34.7 pence, compared to 51.4 pence last year.
Revenue for the quarter declined 7 percent to 1.20 billion pounds from 1.28 billion pounds a year ago.
Rental revenue was down 8% at constant exchange rates.
Looking ahead, Ashtead's chief executive, Brendan Horgan, said, 'Assuming there is no significant COVID-19 second wave leading to major market shutdowns, like we experienced earlier this year, we expect full-year Group rental revenue to be down mid to high single digits when compared with last year on a constant currency basis.'
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