UK's Ashtead proposes move to U.S. listing; warns on profit (updated)
10/12/2024 07:19
(Adds details on listing in paragraph 2)
Dec 10 (Reuters) - UK equipment rental firm Ashtead
AHT.L said on Tuesday that it expects annual profit to come in
below previous expectations and that it plans to shift its
primary listing from London to the United States, its biggest
market.
Ashtead said it would discuss the proposal with shareholders
and expects the plan to be implemented in the next 12-18 months.
It said it would retain a UK listing.
The company said adjusted pre-tax profit fell 2% to $682
million for the three months ended Oct. 31, hurt by higher
depreciation costs and lower used-equipment sales amid weakness
in commercial construction market in North America.
(Reporting by Aby Jose Koilparambil and Yadarisa Shabong in
Bengaluru; Editing by Sumana Nandy and Savio D'Souza)
((abyjose.koilparambil@thomsonreuters.com))