LONDON (dpa-AFX) - Industrial equipment rental company Ashtead Group Plc (AHT.L) Tuesday reported profit before tax of $465.6 million for the fourth quarter, higher than $385.7 million in the comparable period last year, helped by revenue growth.
Excluding one-time items, adjusted profit before tax increased to $495.9 million from $418.1 million a year ago.
Net profit rose to $346.1 million or 78.7¢ per share form 295 million or 66.2¢ per share last year.
Adjusted profit was $368.8 million or 83.8¢ per share, up from $319 million or 71.7¢ per share a year ago.
Quarterly revenue increased 19% to $2.444 billion from $2.078 billion in the previous year, with a 15% growth in rental revenue.
Rental revenue was $2.126 billion in the fourth quarter, compared with $1.875 billion prior year.
The company's Board has proposed a final dividend of 85.0¢ per share, up from 67.5¢ last year, to be paid on September 12 to shareholders on the register on August 11.
Looking forward, the company expects rental revenue to grow in the range of 13%-16% for the full year.
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