Results round-up

After a strong fourth quarter where profit margins grew to record levels, Ashtead has announced a bumper dividend and a £200m share buyback.

The construction equipment rental group proposed hoisting the final dividend to 18.5p, meaning the total payment of 22.5p will be up 48% on the previous year.

With rental revenue up 16% and pre-tax profits surging 42% in the fourth quarter, for the full year Ashtead's underlying revenue rose 17% year-on-year to £2.26bn and underlying profits by 24% to £645.3m.

Underlying earnings per share soared 47% in the final three months of the year to lift full year EPS 28% to 85.1p.

Ashtead’s chief executive, Geoff Drabble said the continued improvement in margins saw group EBITDA margins hit a record 46% and this led to the hiked dividend and buyback of up to £200m.

Health and safety technology company Halma said full year pre-tax profits rose 2% to £136.3m as revenues jumped 11% to £807m.

The revenue increase included 6% in organic constant currency growth and a 2% favourable currency impact. Adjusted profit rose by 8% to £166.0m including 3% organic constant currency growth and a 2% favourable currency impact.

The total dividend increased 7% to 12.81p a share.

“Since the period end, order intake has continued to be ahead of revenue and order intake last year. We expect to make further progress in the year ahead in line with our expectations," chief executive Andrew William said.