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Ashtead Group fiscal Q1 profit climbs 28.7% YOY

Ashtead Group plc said its normalized net income for the fiscal first quarter ended July 31 amounted to 29 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 30 pence per share.

EPS climbed 29.5% year over year from 22 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £143.1 million, an increase of 28.7% from £111.2 million in the year-earlier period.

The normalized profit margin climbed to 16.3% from 15.7% in the year-earlier period.

Total revenue rose 24.5% on an annual basis to £880.1 million from £707.1 million, and total operating expenses rose 23.1% year over year to £623.2 million from £506.2 million.

Reported net income rose 27.9% year over year to £149.9 million, or 30 pence per share, from £117.2 million, or 23 pence per share.