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Ashtead group revenues slip despite record rental performance
(Sharecast News) - Industrial equipment rental firm Ashtead posted record group rental revenues in the twelve months ended 30 April but said overall revenues had slipped as a result of lower sales of used equipment. Ashtead delivered 4% year-on-year growth in rental revenues to $9.98bn in FY25 but said group revenues were down 1% at $10.79bn as lower used equipment sales and second-hand values resulted in lower gains on sale.
Operating profits slipped 4% to $2.55bn and pre-tax profits fell 5% to $1.99bn, while adjusted underlying earnings were 3% higher at $5.02bn. Earnings per share were also down 5% at $3.465 each, and stated its proposed final dividend of $0.72 would take its FY dividend payout to $1.08, up three cents year-on-year.
Ashtead also delivered "near record free cash flow" of $1.8bn for the year and said, when with "sustained levels of profitability", this had enabled it to invest $2.4bn of capital into its growth runway, alongside its highest ever level of shareholder returns totalling $886.0m across dividends and share buybacks.
Ashtead added that it was on track to move its primary listing to the US during Q126.
Reporting by Iain Gilbert at Sharecast.com
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