A-Plant revenue was up a tiny 0.2% in the year to 30 April 2011, to £165.8m (2010: £162.3m).
Operating profit was up from £1.8m to £2.7m.
However, the operating margin of 1.6%, up from 1.1% the year before, paled beside the strong performance of US sister company Sunbelt, which reported a 31.2% operating margin, making £103.6m on revenues of £782.2m.
Parent company Ashtead Group saw total revenue improve by 13% (11% at constant exchange rates) to £949m (2010: £837m) reflecting strong growth in fleet on rent and yield in the USA. This revenue growth, continued cost control and the business improvement programmes initiated over the last two years combined to generate underlying pre-tax profits of £31m for the year (2010: £5m), the company said.
Chief executive Geoff Drabble commented: "We enjoyed an encouraging year where our focus on gaining market share and improving yields resulted in strong growth in group profits.
“The performance of Sunbelt in the US was particularly pleasing with good momentum established that has carried into the new financial year with sustainable improvements in both fleet on rent and yield. Against a backdrop of still challenging end construction markets we are clearly benefitting from both the structural change in the US rental market and self-help from the programmes we initiated during the downturn. In the UK, performance also improved in the second half and we delivered year on year profit growth.”
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