Ashtead buoyed by major projects

Plant hire group Ashtead today said major projects such as Crossrail and the Olympics underpinned its confidence in trading prospects in the UK.

The company reported good market conditions for its A-Plant arm, with the high level of planned infrastructure projects expected to more than offset any potential slowdown in the development of commercial office space. Major A-Plant customers include Wates, Balfour Beatty and Norwest Holst.

The picture is similar in the United States, where Ashtead makes the bulk of its profits through the operation Sunbelt. While the US house market is in the grips of a slowdown, Ashtead noted that 90% of Sunbelt’s business was in the non-residential construction market, which continues to grow.