Article taken from: www.telegraph.co.uk
C lean-up work after hurricanes hit the US has given Ashtead a lift, with demand for the tool and plant hire company’s products surging.
Posting annual results for the year to the end of April, the blue-chip company said revenues rose by a fifth to £3.7bn, with rental revenues up 21pc at £3.4bn.
Profits for the 12 months rose 16pc on a pre-tax basis to £862m.
The FTSE 100 company operates in both the UK and North America, but makes the vast majority of its revenues from its US hire business, Sunbelt.
Hurricanes Harvey, Irma and Maria, which ravaged large areas of the US, meant demand for Sunbelt’s products – which range from power tools to hydraulic platforms – rose as people in areas affected…