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Ashtead Technology

October 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • AT.
  • Price:
  • 437p
Having enjoyed an exceptionally strong Q4 last year,  the strength spilt over into Ashtead’s latest H1 causing broker Numis to upgrade its eps by 9% to 28.3p for the year to end December. Next year’s rises 3% to 29.2p. Sales for H1 were up 57% to £49.8m (40.5% organic) with pretax profit up 87.9% to £14.3m and eps up 69% to 14.1p. Ashtead saw strong sales growth in both the offshore renewables market, +74% to £16.3m (predominantly organic) and the IMR and decommissioning activity in oil & gas, +50% to £33.5m. Tendering activity across the board is said to be c.50% above H1 22. Reflecting strong demand, price improvement and high utilisation, the EBITDA margin widened by 4.1% to 42.7%.  Ashtead continues to consolidate a ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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