Ashtead warns on profit, takes out $500 mln in debt as lockdown dents demand [Reuters]
ASHTED GRP PLC UNSP/ADR (ASHTY)
NASDAQ:AMEX Investor Relations:
ashtead-group.com/investorcentre/default.aspx
Company Research
Source: Reuters
Ashtead warns on profit, takes out $500 million in debt as lockdown dents demand (Reuters) - Equipment rental firm Ashtead ( AHT.L ) warned on Monday that its annual profit would come in lower than last year and said it had taken out an extra $500 million in debt, as the company faces a slump in rentals due to the coronavirus-led shutdowns. The company, which rents out diggers, construction tools and other equipment, said it expects its underlying profit before tax, for the year through April 30, to be about 1.05 billion pounds ($1.31 billion). Last year, the company reported here a profit of 1.11 billion pounds.
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