Ashtead launches buyback amid FTSE 100 departure Markets FTSE 100 giant Ashtead has launched a $1.5bn (£1.2bn) share buyback after announcing yesterday it would be switching its primary listing to the US. In a stock exchange notice today, the construction equipment firm said it had entered into an agreement with Barclays to buy back up to 65m shares over the next 18 months. [...]
FTSE 100 giant Ashtead set to switch primary listing to the US Business FTSE 100 firm Ashtead has revealed plans to switch its primary listing to the US in the latest blow to the London Stock Exchange after a flood of exits this year. After months of speculation, Ashtead, which leases heavy machinery to the construction industry, said on Tuesday that the US market was its “natural long-term [...]
Ashtead: Profit down at equipment giant as revenue slows Business Equipment rental group Ashtead’s revenue grew just two per cent, and profit fell during the three-month period ending 31 July, as a construction slowdown across the US hit the company. The equipment hire giant, the FTSE 100’s 25th largest firm, reported revenue of $2.75bn (£2.1bn) for the period, up from $2.7bn (£2.06bn) in the prior [...]
Ashtead: Equipment firm looks to manage expectations ahead of results September 1, 2024 Expectations have been kept low for equipment hire specialist Ashtead Group as it reports its first quarterly results of the firm’s fiscal year on Tuesday. The FTSE 100-listed firm has seen its shares slump 12 per cent from the two-and-a-half-year highs it reached in the spring. It had been one of the big beneficiaries of [...]
UK company interest payments skyrocket as rate hikes eat into profits July 1, 2024 UK company interest costs have skyrocketed almost 30 per cent as higher interest rates and rising debt ate into the profits of British businesses.
Aston Martin supplier Surface Transforms delays results again amid share price woes June 18, 2024 Surface Transforms said it anticipates full-year results will finally be published in late June 2024, having previously been expected in mid-April.
Ashtead shares dip on cautious sales outlook as rumours swirl on London exit June 18, 2024 Ashtead has reported record full-year revenue and profit as rumours swirl over a move to New York from London.
The threat of a listing exodus must spur on bolder risk-taking June 11, 2024 Just as the arrival of Shein onto London’s equity markets, and the Raspberry Pi float, are more indicative of individual company circumstances than a wider trend, so too would be Ashtead’s departure from London – if they choose to move ahead with it. This is a company after all which, though listed in the capital, [...]
Ashtead: FTSE 100 giant’s potential New York switch raises more questions for London June 10, 2024 Analysts have warned that FTSE 100 giant Ashtead's potential switch to New York's stock market could strip London of one of its best-performing names, once again raising questions over its status as a trading venue for US-focused firms.
Ashtead: FTSE giant worth £24bn mulls switching listing to New York June 9, 2024 A FTSE 100 giant worth more than £24bn is reportedly exploring switching its stock market listing from London to New York in what would be a major blow to the capital's beleaguered bourse.