ASHTEAD TECHNOLOGY HOLDINGS PLC (AT.) — Half Year Results

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the ASHTEAD TECHNOLOGY HOLDINGS PLC Half Year Results Investor Presentation. The company may not be in a position to answer every question it receives during the meeting itself. However, company can review all questions submitted today and publish responses where it is appropriate to do so. Before we begin, I would like to submit the following poll. And I would now like to hand you over to CEO, Alan Purrie. Good morning to you. Good morning. Thank you, everyone, for joining us this morning. We will do the normal run through, some slides in the presentation and then, you know, open up to to questions. We're delighted to present another strong set of results and growing strongly through successfully executing our strategy of building a platform to sustain long term growth. We delivered 61% headline growth in, the first half of the year. 16% of that was was organic growth, outperforming our underlying markets. 47% of the growth came from the acquisition of ACE Winches, which we completed in November, last year. And then we had a minus one impact from FX. We continue to invest in our business. We have invested 16,400,000 in the rental fleet in the first half that compared to 8,000,000 in the prior year. We are on course to spend 30,000,000 for the full year. We increased headcount by 8%, predominantly in technical and sales team resources. We finished the half year at 559. The Ace Winches acquisition is going well. We have strengthened the pipeline. We're now seeing the benefit of having a wider equipment and services offering. As we look at further m and a, the pipeline is is in good shape, and we will continue to progress that to capitalize on a growing market. In terms of the the the market outlook, that continues to strengthen. We will di...