17th Jul 2025 14:31
Ashtead Technology Holdings PLC - Aberdeenshire, Scotland-based subsea equipment rental company - Expects to report weaker-than-expected adjusted earnings, amid "the challenging geo-political environment, significant disruption in the US market and a small foreign exchange headwind". Ashtead Technology also notes its effort to reduce "exposure to cross hire and low margin equipment sales". Revenue for the first six months of 2025 is expected to be up 23% on-year at GBP99 million. The company expects to achieve an earnings before interest, tax and amortisation margin of 27.3%, up from 26.1% a year before. However, for the full-year, it expects an adjusted Ebitda outcome "modestly below its previous expectations". In its March annual results, Ashtead Technology said it had "continued confidence" in achieving a margin in the high 20s over the medium term. It still intends to move to the London Main Market from AIM, with an update to be provided "in due course." The company will publish half-year results on August 26.
Current stock price: 353.00 pence each, down 22% on Thursday afternoon in London
12-month change: down 60%
By Tom Budszus, Alliance News slot editor
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