TOOL HIRE TOP TEN 2013 continued
A-PLANT TOOL HIRE Chief Executive (A-Plant)
Head Office
Telephone Number Website
Hire activities
Geographical coverage Status
Sat Dhaiwal
102 Dalton Avenue, Birchwood Park, Warrington, WA3 6YE 01925 281000
www.aplant.com
A wide range of plant and tools, including lifting, surveying, drilling, surface preparation and dust extraction equipment National
Subsidiary of Ashtead Group plc, a public company listed on the London Stock Exchange
ASHTEAD GROUP PLC: RESULTS FOR THE SIX MONTHS ENDED 31 OCTOBER 2012 Six months ended Six months ended %Change 31.10.12 (£m)
31.10.11 £m)
Revenue Sunbelt (US) A-Plant (UK)
Group Revenue EBITDA
Sunbelt (US) A-Plant (UK)
576.8* 103.6 680.4
249.5 30.8
Group central costs (4.5) Group EBITDA
Pre-Tax Group Profit 112.9** 275.8
481.8* 93.7
575.5
183.9 26.1 (3.4)
206.6 82.9
+19.7 +10.6 +18.2
+35.7 +18.0 +32.4 +33.5 +36.2
*Sunbelt revenues in US dollar terms rose by 17.7% to $913.2m **after exceptional financing costs of £18.0m, relating to the redemption of $550m 9.0% senior secured notes in the first quarter.
NB: The figures for A-Plant above relate to the whole of its operations; the figures given in the Top Ten tables relate to the company’s tools and small equipment activities and have been provided by A-Plant management.
COMMENT
Ashtead’s half year results reveal another strong performance based primarily on the continuing growth of the US rental market, with Sunbelt now accounting for 85% of Group revenues.
The operating profit margin of 27.8% achieved by Sunbelt is an improvement of over five percentage points on the same period of 2011, and compares with A-Plant’s figures of 7.1% and 5.6% respectively. Nevertheless A-Plant’s 10%+ growth suggests that it is out-performing most of its peers in the UK.
In recent times there have been indications that A-Plant might be prepared to go down an acquisition route to expand its market share but, so far, the only move has been the purchase of Kier Plant’s mechanical plant and small tools unit last August. A-Plant is paying a maximum of £4.0m and has entered a trading agreement with Kier.
30 COMMENT
Adrian Watts describes 2012 as ‘an excellent year’ for Hirebase, which he says is ‘one of Grafton’s success stories’. Hirebase continues to expand through the Buildbase network, with four more new branches planned to open this year, and a further three within the Group’s Civils & Lintels business. A new initiative is to open branches within Grafton’s Selco, a builders’ merchant operation serving mainly small traders; two outlets will open in Hanworth and Nottingham in March and several more are planned.
GAP GROUP LTD Joint Managing Directors
Head Office
Telephone Number Website
Hire activities
Geographical coverage Status
COMMENT
The GAP figures in our tables relate only to the company’s tools and small equipment operations and have been provided by the company. The revenues from this part of GAP’s business account for just over one third of the Group total of £85.5m in the year ended 31 March 2012. In terms of annual revenues, GAP is the UK’s largest family-owned hire company.
The last financial year proved to be an extremely good year for the company with revenues back to almost pre-recession levels and pre-tax profits climbing by 170% to £6.2m. Turning to GAP’s current financial year, Douglas Anderson confirmed just before Christmas that, so far, revenues were running 16% ahead of the previous year and that the company had enjoyed a record November and its second best ever October. Like other hirers, GAP has sought to expand its product range and specialities. In recent times new depot openings have been focused on specialist lifting and non-mechanical equipment but, in December, the company opened a new plant and
HIREBASE Hire Director
Head Office
Telephone Number Website
Hire activities Geographical coverage Status
Adrian Watts
Gemini One, 5520 Oxford Business Park, South, Cowley, Oxford, OX4 2LL 01865 871700
www.hirebase.co.uk Tools and small plant
From Sheffield to Crawley and Norwich to Exeter
A division of Grafton Merchanting GB, a subsidiary of Grafton Group plc (Irish-registered public company).
Douglas and Iain Anderson
40 Carrick Street, Glasgow, G2 8DA 0141 225 4600
www.gap-group.co.uk
Non-operated plant and tools National
Private company owned by the Anderson family
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