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Ashtead Group fiscal Q1 profit climbs 20.6% YOY

Ashtead Group plc said its normalized net income for the fiscal first quarter ended July 31 came to 15 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 14 pence per share.

EPS rose 20.8% year over year from 12 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £73.4 million, an increase of 20.6% from £60.9 million in the year-earlier period.

The normalized profit margin rose to 16.0% from 14.8% in the year-earlier period.

Total revenue climbed 11.5% on an annual basis to £457.9 million from £410.5 million, and total operating expenses increased 8.3% year over year to £327.2 million from £302.2 million.

Reported net income rose 23.1% on an annual basis to £74.9 million, or 15 pence per share, from £60.8 million, or 12 pence per share.