Ashtead boosted by US shift from owning to renting

News Story
- 20 Jul 2006 ( #269 ) - SURREY, United Kingdom
1 min read
UK equipment rental giant Ashtead group plc says the strength of the US non-residential construction market has seen its US subsidiary Sunbelt Rentals gain market share.

Ashtead cited US Department of Commerce figures putting the non-residential construction market's growth at 10.2 per cent in the year to April 2006. Sunbelt also was "encouraged by the ongoing shift from ownership to rental" in the US, an Ashtead statement said.

All Sunbelt regions and product areas traded higher than the previous year. The US hurricanes were estimated to have added 2 per cent to revenues for financial year ending April 2006 (2005/06).

Sunbelt invested USD384.4 million in capital expenditures and focused mainly on replacing and growing its rental fleet. Rental fleet investment was 11 per cent higher than 2004/05 and rental rates increased 12 per cent in "strong market conditions".

Sunbelt's revenue increased 23.8 per cent to USD818.7 million. Operating profit jumped 62.7 per cent to USD175.5 million from 2004/05's USD107.9 million.

Ashtead, one of the world's largest equipment rental groups, provides forklifts, aerial work platforms, backhoes, excavators and other equipment for rent through US-based Sunbelt Rentals and UK-based A-Plant. Sunbelt Rentals has a fleet of more than 4,500 forklifts. It is the US's fourth largest equipment rental company, according to the US Rental Equipment Register.

Ashtead posted revenue growth of 21.8 per cent to GBP638 million (USD1.17 billion) for the year ended April 30, 2006. In its audited results for fiscal 2005, Ashtead's underlying profit before tax was GBP67.5 million (USD123.8 million), three times 2004's GBP22.4 million (USD410.97 million).
Interroll completes Indian acquisition
Interroll completes Indian acquisition 12 Sep 2024 - Sant'Antonino, Switzerland - 1 min read
Doosan Bobcat announces global brand strategy
Doosan Bobcat announces global brand strategy 16 Mar 2023 - Seoul, Korea, Republic Of - 1 min read
Narrow Aisle delivers record turnover
Narrow Aisle delivers record turnover 16 Mar 2023 - Tipton, United Kingdom - 1 min read
Previously about:
JCB agency workers lose jobs News Story - 2 Aug 2012 - Rocester, United Kingdom - 2 min read
Ashtead realises more cost savings News Story - 5 Jul 2007 - SURREY, United Kingdom - 2 min read
Forklift rental group boosts US presence News Story - 27 Oct 2005 - SURREY, United Kingdom - 1 min read
Sunbelt Rentals buys 2,100 machines News Story - 1 Apr 2021 - Rocester, United Kingdom - 2 min read
Sunbelt Rentals revenue rises News Story - 26 Jun 2014 - Fort Mill, SC, United States - 1 min read
Sunbelt Rentals shows growth News Story - 19 Dec 2013 - Fort Mill, SC, United States - 1 min read
Do you have materials handling news? Submit your news here
Inside The News
This week Forkliftaction News is celebrating its 25th anniversary! A wonderful achievement given we launched at a time when just 6% of the world’s population were internet users, according to Internet World Stats . Over the coming weeks, we will be sharing stories about our history and rolling out more celebrations, so keep an eye out... Continue reading

PREMIUM business

Lift Tek Elecar
Global leader in the design and manufacture of masts, carriages, integral sideshifters & fork positioners.

Since July 2000, Forkliftaction News has been your guide to the developments that are shaping your industry.

Starting today we are also looking back on some of the key news stories from our extensive news archive.

In the news email and on the website, you'll see links to stories that were 'leading our news' multiple years ago, with topics spanning world-first products, big acquisitions, and major industry shifts.
We hope you enjoy this unique insight into the materials handling industry!

Words of support …

After advertising with Forkliftaction.com, we got many enquiries regarding interest to be our distributor. Mostly from Europe and USA but including a few in ASEAN. We feel that the advertisement was useful and good for market expansion.

Lawrence Xu, Assistant Sales Manager

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

It’s the year 2000. You’re in front of a boxy beige desktop waiting for the screeching ramblings of your dial-up to reach its finale. You go to Yahoo!, MSN, or maybe AOL, and start the mind-numbing process of finding your very specific needle in the digital haystack. And with web pages loading one image at a time, patience isn’t just a virtue – it’s a requirement!

As clumsy as this early iteration seems now, this technology was the great enabler that allowed Forkliftaction to connect to the industry across the globe.  

To everyone who has connected with Forkliftaction in the past 25 years, thank you for your contribution to our success! We feel deeply touched by your words of encouragement.

What has Forkliftaction meant to you? Drop us a line.

Inside The News
This week Forkliftaction News is celebrating its 25th anniversary! A wonderful achievement given we launched at a time when just 6% of the world’s population were internet users, according to Internet World Stats . Over the coming weeks, we will be sharing stories about our history and rolling out more celebrations, so keep an eye out... Continue reading

PREMIUM business

Zhejiang UN Forklift Co., Ltd
Manufacturer of IC forklifts, electric forklifts and warehouse equipment.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

PREMIUM business

Tailift Material Handling USA Inc
Part of Toyota Industries Group - Leading manufacturer of High-quality machines.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Since July 2000, Forkliftaction News has been your guide to the developments that are shaping your industry.

Starting today we are also looking back on some of the key news stories from our extensive news archive.

In the news email and on the website, you'll see links to stories that were 'leading our news' multiple years ago, with topics spanning world-first products, big acquisitions, and major industry shifts.
We hope you enjoy this unique insight into the materials handling industry!