CHARLOTTE, NC – June 29, 2007– Sunbelt Rentals reported strong financial results for the twelve month period ending April 30, 2007, with pro forma revenues increasing by 8% to $1.5 billion. The announcement by Sunbelt Rentals’ parent company, Ashtead Group plc, further highlighted Sunbelt’s pro forma operating profit increase of 43% to $272.3 million, up from $190.4 million in 2006.
“Higher rental revenue from a focus on developing business around our broad fleet mix, development of a correspondingly diverse customer base and improved dollar utilization through better physical utilization were key factors in Sunbelt’s financial performance,” said Cliff Miller, Sunbelt Rentals’ president and chief executive officer. “As we enter the height of the rental season, we are one team focused on gaining market share and improving utilization.”
“The Sunbelt team has accomplished a great deal in a very short period of time, and we are well positioned to take advantage of the current favorable market conditions as we move into the heart of the current fiscal year,” 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 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 plc, whose shares are publicly traded on the London Stock Exchange, now has a market capitalization of over $1.7 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 12 branches located in the U.S., Canada, the United Kingdom and Singapore.