I here a whisper that Ashtead may become the target of a takeover bid. Anybody have any further news on this? I've been holding this little gem for a while now. Got in at 11.25p and then sold 2/3rds of my stock at 18p to break even. Can't quite decide when to take my mega profit. 1 by Christmas? Here's hoping.

UP 8.44%


Ashtead profits up

StockMarketWire.com

Ashtead Group's underlying pre-tax profits rose by 21% to £342.7m in the six months to the end of October.

Underlying EBITDA rose 22% to £591.8m and earnings per share rose by 25% to 45.1p.

On a statutory basis, pre-tax profits were 20% up at £331.9m and earnings per share 24% higher at 43.7p. Revenues of £1,267.5m were up 21%.

Chief executive, Geoff Drabble said: "I am pleased to be able to report another strong quarter resulting in underlying pre-tax profits of £343m for the six months, up 21% at constant exchange rates on the prior year. Even with significant levels of investment, we continue to grow responsibly, generating strong returns and maintaining leverage within our stated objectives. Group RoI was a healthy 19% and our leverage reduced to 1.9 times EBITDA.

"We continue to execute on our strategy to diversify the markets we serve, both in terms of geography and sector. Sunbelt's 22% rental only revenue growth demonstrates clearly the benefits of this strategy and the overall health of our broader markets. We invested £696m in capital expenditure and opened 38 new locations in the US. Given the profitable growth opportunities evident in our markets, we are increasing our full year guidance for capital expenditure to c. £1.1bn.

"With both divisions performing well, strong end markets and our strategy clearly working, we now anticipate a full year result ahead of our previous expectations and the Board looks forward to the medium term with confidence."

StockMarketWire.com
Ashtead Group reports strong third quarter results taking underlying pre-tax profits to GBP482m for the first nine months of the year - up 20% at constant exchange rates.

Group rental revenue rose by 17% to GBP1,675.5m and EBITDA increased by 21% to GBP869.2m.

Chief executive Geoff Drabble said: "The Group delivered another strong quarter resulting in underlying pre-tax profits of £482m for the nine months, up 20% at constant exchange rates on the prior year. We continue to grow responsibly, generating strong returns and maintaining leverage within our stated objectives. Group RoI was a healthy 19% and our leverage reduced to 1.9 times EBITDA. Our continued success demonstrates both the strength of our strategy and the overall health of the markets we serve.

"Looking forward, while we are watchful of the broader economic environment, we continue to see encouraging growth opportunities and expect double digit fleet growth in the US in 2016/17. As our fleet replacement expenditure naturally moderates, we enter a phase of the cycle where we anticipate both good earnings growth and significant cash generation. As a consequence our leverage will trend towards the lower end of our range of 1.5 to 2.0 times net debt to EBITDA which provides the Group with a high degree of flexibility and security.

"With both divisions performing well, strong end markets and our strategy clearly working, we expect full year results to be in line with our expectations and the Board looks forward to the medium term with confidence."

Why the drop?

The dollar is up against the pound.

Good results?

"To the downside, Ashtead (AHT) led with a dive of 10.77% to 824.5p despite reporting a strong Q3 and expecting FY results to be in line with its expectations. Barclays (BARC), down 6.09% to 161.58p, has improved the FY pretax profit in its core business, but posted a lower statutory pretax profit of GBP2.07bn, down 8%."

StockMarketWire.com
Ashtead Group posts underlying pre-tax profits of £645m for the year to the end of April - up 24% at constant exchange rates.

Group rental revenue rose 17% to £2,260.3m and underlying EBITDA increased buy 23% to £1,177.6m.

The proposed final dividend of 18.5p takes the total to 22.5p - up 48% (2015: 15.25p).

Chief executive, Geoff Drabble, commented: "2015/16 was another very successful year for Ashtead with Group rental revenue increasing 17% and underlying pre-tax profit up 24% to £645m at constant exchange rates.

"We continue to deliver on our well-established strategy of organic growth, supplemented by bolt-on acquisitions. We have broadened both our geographic footprint and the markets we serve and the benefits of this diversification are evident, both in our financial performance and our market share gains.

"Particularly encouraging is the continued improvement in our margins, with Group EBITDA margins now a record 46%. These strong margins, together with the natural moderation of our replacement fleet expenditure, mean we are entering a phase where we anticipate both good earnings growth and significant free cash flow generation. We therefore have the flexibility to continue both to invest in our long-term structural growth opportunity and enhance returns to shareholders. As a consequence, we have announced today both a proposed 48% increase in our full year dividend to 22.5p and a share buyback of up to £200m. As always, we will continue to grow responsibly and will operate within our 1.5 to 2.0 times net debt to EBITDA range.

"We have seen a good seasonal upward trend in fleet on rent throughout the Spring which has continued into the new financial year. Our end markets remain strong, the structural drivers are still in place and we have a strong balance sheet which allows us to execute our plans responsibly. As a consequence, the Board continues to look to the medium term with confidence."

Doing very nicely:



Ashtead profits up

StockMarketWire.com

Ashtead Group reports a a strong first half results with underlying operating profits up 9% at �474.4m.

On a statutory basis, revenues were up 8% at �1,551.7m and pre-tax profits rose by 9% to �413.3m.

Highlights

- Group rental revenue up 13%1 - First half underlying pre-tax profit2 of �426m, up 9% at constant exchange rates - Group EBITDA margins at a record 49% (2015: 47%) - Group RoI of 18% (2015: 19%)



- Net debt to EBITDA leverage of 1.8 times (2015: 1.9 times) - Interim dividend raised 19% to 4.75p per share (2015: 4.0p) Chief executive Geoff Drabble said: "The Group delivered a strong quarter with reported rental revenue increasing 28% (13% at constant exchange rates) for the six months and underlying pre-tax profit of �426m. The underlying performance of the business continues to benefit from a clear and consistent strategy of organic growth supplemented by bolt-on acquisitions. In the six months, the reported results were positively impacted by weaker sterling (�53m) but this was partially offset by the impact of lower gains on fleet disposals (�14m) as we reduced our replacement capital expenditure.

"I am pleased with the continued improvement in our margins - Group EBITDA margin is now a record 49% (2015: 47%). These healthy margins and our strong balance sheet provide flexibility to continue to invest in our long-term structural growth opportunity and enhance returns to shareholders.

"We continue to grow responsibly, adhering to the capital allocation priorities we have outlined. We have therefore invested �683m by way of capital expenditure and a further �142m on bolt-on acquisitions. With the continuing opportunity for profitable growth, we have increased our full year capital expenditure guidance. In addition, we spent �48m under the share buyback programme and increased the interim dividend by 19%. All of this was achieved whilst maintaining leverage well within our stated range of 1.5 to 2.0 times net debt to EBITDA. "Both divisions continue to perform at the upper end of expectations. This, together with the benefit of significantly weaker sterling, means we expect full year results to be ahead of our expectations and the Board continues to look to the medium term with confidence."





Story provided by StockMarketWire.com

StockMarketWire.com
Ashtead Group reports a a strong first half results with underlying operating profits up 9% at £474.4m.

On a statutory basis, revenues were up 8% at £1,551.7m and pre-tax profits rose by 9% to £413.3m.

Highlights
- Group rental revenue up 13%1 - First half underlying pre-tax profit2 of £426m, up 9% at constant exchange rates - Group EBITDA margins at a record 49% (2015: 47%) - Group RoI of 18% (2015: 19%)

- Net debt to EBITDA leverage of 1.8 times (2015: 1.9 times) - Interim dividend raised 19% to 4.75p per share (2015: 4.0p) Chief executive Geoff Drabble said: "The Group delivered a strong quarter with reported rental revenue increasing 28% (13% at constant exchange rates) for the six months and underlying pre-tax profit of £426m. The underlying performance of the business continues to benefit from a clear and consistent strategy of organic growth supplemented by bolt-on acquisitions. In the six months, the reported results were positively impacted by weaker sterling (£53m) but this was partially offset by the impact of lower gains on fleet disposals (£14m) as we reduced our replacement capital expenditure.

"I am pleased with the continued improvement in our margins - Group EBITDA margin is now a record 49% (2015: 47%). These healthy margins and our strong balance sheet provide flexibility to continue to invest in our long-term structural growth opportunity and enhance returns to shareholders.

"We continue to grow responsibly, adhering to the capital allocation priorities we have outlined. We have therefore invested £683m by way of capital expenditure and a further £142m on bolt-on acquisitions. With the continuing opportunity for profitable growth, we have increased our full year capital expenditure guidance. In addition, we spent £48m under the share buyback programme and increased the interim dividend by 19%. All of this was achieved whilst maintaining leverage well within our stated range of 1.5 to 2.0 times net debt to EBITDA. "Both divisions continue to perform at the upper end of expectations. This, together with the benefit of significantly weaker sterling, means we expect full year results to be ahead of our expectations and the Board continues to look to the medium term with confidence."

~£4m by two directors DYOR - at £15 - looks like they've done well . . . but why Sell now, ahead of Trump's arrival....maybe they expect some turmoil...? Or they know it's time to get out . . . sp=£15 is mighty high IMHO... with a very small yield.

goldfinger (3E) and mel on advfn have been saying for a while that this was a winner, and so it has most definitely proved today

as most of you guys spend all your time on this BB hurling insults at each other about brexit and other nonsense, there seems little point in expounding further on why AHT looks to be on a strong roll

Manuel,

Eat your heart out.

Bought October 2013.

😀

well done fred
i only bought this morning, and that is on my small trading a/c
nevertheless, it's already showing a very healthy profit

btw. manuel is currently in madrid :-)

Oh really?..work related obviously.

indeed .... appearing as a witness for the defense tomorrow ..... trip all paid for by my client

plaintiff's case is bordering on the vexatious i reckon

I hope you are sipping coffee in the Plaza Mayor.

A beautiful city, but a B. to drive a lorry through.

long walk to plaza mayor from my hotel, though i did so this morning and thence to mercado san miguel for a couple of tapas and beers

walked back through retiro park ..... very nice but frightfully formal rather like the tuileries in paris

Ashtead underlying earnings up 18%

StockMarketWire.com

Ashtead Group has reported a strong first quarter with rental revenue increasing 25% to £828.8m and underlying pre-tax profit up by 30% to £238m.

Underlying EBITDA rose by 18% to £431.1m.

On a statutory basis, revenues were up 16% at £880.1m and pre-tax profits rose by 19% to £228.9m.

Chief executive Geoff Drabble said: "The reported results were impacted favourably by weaker sterling but, with 17% growth in group rental revenue at constant exchange rates, we have continuing good momentum.

"Our end markets remain strong and a wide range of metrics have shown consistent improvement.

"We continue to execute well on our strategy through a combination of organic growth and bolt-on acquisitions.

"We made significant investments in the quarter, spending £377m on capital expenditure and £116m on bolt-on acquisitions.

"Our strong margins ensured that, despite these levels of investment, we remain comfortably within our target range for net debt to EBITDA of 1.5 to 2 times.

"A successful refinancing has provided us with a low cost, long-term platform for further responsible growth.

"At the end of the quarter both businesses were performing well, in line with expectations and with positive momentum.

"Hurricane season has already generated significant activity which will require a major clean-up effort and then a multi-year rebuild programme. Currently, our efforts are focused on supporting our colleagues, neighbours and customers and we stand ready to provide further assistance.

"It is too early to attempt to quantify the impact of Hurricanes Harvey and Irma accurately on our business.

"However, it is evident that it will result in an increase in demand for our fleet and we will provide an update at the end of Q2.

"Looking forward, as a minimum, we expect that the impact will help to underpin the current market assumptions in our 2021 plan and therefore the Board continues to look to the medium term with confidence."





Story provided by StockMarketWire.com

Looking very good for the future regarding the potential earnings from the hurricanes on paper Fred?

already hold these and AGK which should also be a significant beneficiary of the hurricane damage rebuilding

GREAT rns from this quarter has sent sp rocketing by 90p (4.5%)
glad i hold in sipp already and also bought a few to trade yesterday
a happy start to the day

=============

abbreviated .....

company to launch buyback program of at least GBP500m, up to GBP1b over next 18 months.
* 1H group rental revenue up 20% in constant currencies
* Underlying pretax profit GBP537m vs GBP426m
* Trading boosted by clean-up efforts following hurricanes