FORT MILL , SC – March 9, 2007– Sunbelt Rentals reported strong third quarter results for the three months ended January 31, 2007 with revenues increasing by 73% to $361.5 million. The announcement by Sunbelt Rentals’ parent company, Ashtead Group plc, further highlighted Sunbelt’s operating profit increase for the quarter of 39.0% to $58.1 million, up from $41.8 million in 2006. These results reflect Sunbelt’s acquisition of NationsRent, Inc. on August 31, 2006.
“We are pleased with the solid financial performance of Sunbelt in our typically slower season. The enlarged Sunbelt network of locations is working well together, focusing on improving our service levels to further differentiate ourselves in the market,” said Cliff Miller, Sunbelt Rentals’ president and chief executive officer. “We are pleased to see strong commercial construction activity in most of our markets and are confident that Sunbelt, as a much larger unified company, will continue to gain market share.”
“Sunbelt’s Pump and Power Division opened two new locations in the quarter helping round out our service offerings in San Diego and Houston, and are planning four additional locations in the next six months. Currently with 20 locations and moving to 24 locations servicing the pump and power generation markets, we are well positioned in this important rental sector,” said Miller.
Sunbelt Rentals, a wholly-owned subsidiary of Ashtead Group plc, is the second largest equipment rental company in the U.S. Sunbelt is based in the Charlotte, N.C. metro area, and provides equipment rental solutions for the industrial, construction, and municipal markets, plus the DIY markets, from its network of over 450 branches, including 100 Sunbelt at Lowe’s, in 35 states and the District of Columbia. Sunbelt’s extensive equipment fleet includes a wide range of general construction and industrial equipment, and is further broadened by specialty businesses serving the Pump, Power, Trench Shoring and Scaffold markets. For more information, visit www.sunbeltrentals.com.
On a global scale, Ashtead Group, whose shares are publicly traded on the London Stock Exchange, now has a market capitalization of over $1 billion. Ashtead Group has a network of over 700 locations among three equipment rental subsidiaries: A-Plant, the third largest equipment rental company in the UK with 200 locations; Sunbelt Rentals; and Ashtead Technology, an international offshore and nondestructive testing equipment rental company headquartered in Houston, TX, with 10 branches located in the U.S., Canada, the United Kingdom and Singapore.