June 18, 2019 / 6:54 AM / 3 months ago

BUZZ-Ashtead: Seen up after revenue beat, positive outlook

** Shares of equipment rental company Ashtead seen up 1% to 2%, according to pre-market indicators

** Ashtead’s FY2019 revenue rose to ~4.50 bln pounds ($5.64 bln) vs analysts’ est. of 4.44 bln pounds, according to IBES data from Refintiv

** Says end-markets in North America remain strong

** With our business performing well and a strong balance sheet to support our plans, the board continues to look to the medium term with confidence - Chief Executive Brendan Horgan

** AHT also reported a 17% rise in FY2019 profit as U.S. sunbelt business benefited from higher demand for industrial gear

** Underlying pretax profit for FY was 1.11 bln pounds, in-line with analysts’ estimate of 1.10 bln pounds

** Up to Monday’s close, stock up 19.8% YTD ($1 = 0.7978 pounds) (Reporting by Shariq Khan in Bengaluru)

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