LONDON (dpa-AFX) - Ashtead Group PLC (AHT.L), a British industrial equipment rental company, on Tuesday recorded a decline in earnings for the fourth quarter, reflecting decreased revenue.
For the three-month period to April 30, the company recorded profit before tax of $392.2 million, less than $417 million in the same period last year. Excluding items, pre-tax income was $430 million, compared with $446 million in the previous year.
Net profit stood at $311.3 million, or 72 cents per share, as against the prior year's $324.7 million, or 73.9 cents per share. Operating profit was $522.9 million, compared with $561.2 million a year ago.
Adjusted earnings per share also declined to 78.7 cents from last year's 79.3 cents per share.
EBITDA slipped to $1.137 billion from $1.141 billion in 2024.
Revenue was $2.529 billion, down from the previous year's $2.627 billion. Revenue from the sale of used rental equipment declined to $111.7 million from last year's $222.9 million. Revenue from the sale of new equipment, merchandise, and consumables stood at $83.3 million, compared with $91.1 million in 2024.
Rental revenue, however, improved to $2.334 billion from the previous year's $2.313 billion.
The Board will pay a final dividend of 72 cents per share, bringing the total dividend for the year to 108 cents, higher than 105 cents declared last year. The final dividend will be paid on September 10 to shareholders on the register as of August 8.
Looking ahead, for fiscal 2025-26, the Group expects revenue to improve 0 to 4 percent from revenue of $10.791 billion recorded for fiscal 2024-25.
The company projects its annual capital expenditure to be in the range of $1.8 billion to $2.2 billion.
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