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Ashtead raises full year profit target on U.S., UK demand
March 4, 2014 / 7:16 AM / 4 years ago

Ashtead raises full year profit target on U.S., UK demand

LONDON (Reuters) - British industrial equipment hire group Ashtead raised its full year profit expectation on Tuesday after strong demand in the United States and Britain helped drive its profits 54 percent higher in the third quarter.

Ashtead, which makes 85 percent of its revenue from U.S. division Sunbelt, posted a pre-tax profit for the third quarter ending January 31 of 80.4 million pounds, up from 53.5 million pounds a year earlier.

Reporting by Li-mei Hoang, Editing by Belinda Goldsmith

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