June 18, 2019 / 1:47 PM / 3 months ago

BUZZ-Ashtead: Rises to top of FTSE 100 on U.S. boost

(Adds shares)

** Shares of equipment rental company Ashtead up 4.2%, top of FTSE blue-chip index

** Ashtead’s fiscal 2019 revenue rose to ~4.50 bln pounds ($5.64 bln) vs analysts’ est. of 4.44 bln pounds, according to Refinitiv data

** Co says end-markets in North America remain strong, continues to look to the medium term with confidence

** AHT reported a 17% rise in FY2019 profit as U.S. Sunbelt business benefited from higher demand for industrial gear

** Peel Hunt nudges up April 2020 PBT estimate by 2%

** Liberum: “The market will be relieved that Ashtead has not seen an interruption in growth in Q4 as growth tracked in line with trends seen over the first three quarters (+15%)”

** “In terms of outlook, the company needs to show a lessening reliance on the construction market..there are definite signs that such progress is being made,” said brokerage Interactive Investor ($1 = 0.7978 pounds) (Reporting by Shariq Khan and Justin George Varghese in Bengaluru)

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