Owner Ashstead Group said A-Plant had performed well in improving markets and delivered total rental revenue of £147m, up 18% on the previous year.
This rise was driven by 11% more fleet on rent and a 6% improvement in yield. Yield has benefitted from an improved pricing environment and the diversification of the product line.
Across the Ashtead Group, which also includes the bigger US business Sunbelt, pre-tax profits jumped a third to £259m on turnover up 23% to just short of £1bn in the first six months.
Ashtead’s chief executive, Geoff Drabble, said: “Given the profitable growth opportunities evident in our markets, we are increasing our full year guidance for capital expenditure to a range of £925m to £975m.
“Even with these significant levels of investment, we continue to grow responsibly, generating strong returns and maintaining leverage within our stated objectives.
“With both divisions performing well, recovering end markets, and a proven track record of market share gains, we now anticipate a full year result ahead of our previous expectations.”