A Sunbelt Rentals forklift

Ashtead Group plc subsidiary Sunbelt Rentals of Fort Mill experienced dramatic growth during the six months ended 31 October. Total sales jumped to USD1.1 billion (GBP711.5 million) from USD913.2 million (GBP576.8 million) in the year-earlier period.

"Once again, Sunbelt in the US was the main driver of our growth," says Geoff Drabble, chief executive of London-based Ashtead.

Sunbelt rental revenue grew 23% to USD998 million from USD811 million. That was driven by a 17% increase in fleet on rent and 6% improvement in yield.

The value of Sunbelt's fleet size was USD3.3 billion.

Average first-half physical utilisation was 73% versus 72% in the fiscal 2012 six-month period.

Sunbelt Rentals says it is the second largest equipment rental company in the US, with locations in 39 states.

In a report for the quarter ended 30 September, major competitor United Rentals Inc of Stamford, Connecticut says it had profit of USD143 million on sales of USD1.31 billion. United Rentals acquired RSC Holdings Inc on 30 April 2012.