Ashtead has reported record full-year revenue and profit as rumours continue to swirl over a potential switch from London to New York’s stock market. The FTSE 100 giant, which rents heavy machinery to the construction industry, raked in $10.86bn (£8.
4bn) in revenue for the year to 30th April 2024, up 12 per cent year-on-year, while operating profit rose five per cent to $2.7bn (£2.1bn).
Earnings before interest, taxation, depreciation and amortization (EBITDA) came in at $4.9bn (£3.9bn), up 11 per cent on the prior year.
The group has rewarded investors with a bumper dividend every year since 2005 and today proposed a final dividend of 89.25 ¢ (70.3p), giving a full-year dividend of 105 ¢ (83p), up from 100 ¢ (79p) in 2023.
Ashtead’s chief executive, Brendan Horgan, said: “This performance is only possible through the dedication of our team members who deliver for all our stakeholders every day, while ensuring our leading value of safety remains at the forefront of all we do. “During the year, we invested $4.3bn (£3.
4bn) in capital across existing locations and greenfields and $905m (£713bn) on 26 bolt-on acquisitions, adding a combined 113 locations in North America. “This investment is enabling us to take advantage of the substantial structural growth opportunities that we see for the business, while maintaining a strong and flexible balance sheet.” It comes amid speculation Ashtead, which has a market cap of £24.
7bn, could become the latest FTSE consti.
