RERMAG

Sunbelt Parent Ashtead Has 31 Percent Q3 Revenue Jump

United Kingdom-based Ashtead Group posted record fiscal third quarter profits and revenues, the company announced last week.

Based on current currency conversion rates, third quarter revenue was $282.0 million, up from $214.2 million in the third quarter last year, a 31 percent leap. For the nine-month period, revenue jumped from $690.8 million to $826.2 million, a 19.6 percent hike.

Ashtead’s Sunbelt Rentals unit in the United States increased revenues 31 percent in the third quarter, the company said.

Ashtead, based in Leatherhead, Surrey, England, is made up of A-Plant, the U.K.’s third largest equipment rental firm, Charlotte, N.C.-based Sunbelt Rentals, North America’s fourth largest rental company, and Ashtead Technology Rentals, which operates in the U.S., U.K., Canada and Singapore and rents electronic survey and inspection equipment to the offshore oil and gas industries in the North Sea, the Far East and the Gulf of Mexico.

TAGS: Syndicate
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