Ashtead Technology Sees 2022 Performance Ahead of Market Views

By Michael Susin

Ashtead Technology Holdings PLC said Monday that it expects revenue and profit to be materially above current market expectations for 2022, driven by a robust underlying performance.

The London-listed subsea equipment-rental provider said it has continued to benefit from increasing strength across geographic markets following a robust performance in the first half, resulting in higher pricing.

Ashtead is expected to report full-year revenue of 65.5 million pounds ($72.7 million) and underlying pretax profit of GBP15.8 million, according to a market consensus taken from the company’s website.

“Given the strong underlying performance, and supported by the continued positive market outlook and favorable exchange rates across its international business, the board has increased confidence in the group’s trading outlook and now expects to materially outperform its previous expectations,” the company said.

Write to Michael Susin at michael.susin@wsj.com

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