Sunbelt Rentals’ parent company Ashtead Group plc last week announced record results for the year ended April 30, 2006, with Sunbelt’s revenue increasing by 23.8 percent to $818.7 million. Sunbelt’s operating profit increased 62.7 percent to $175.5 million, up from $107.9 million in 2005. Sunbelt also invested a record $384.4 million in capital expenditures during the year, focusing principally on fleet replacement and growth.

“Sunbelt’s significant growth can be attributed to the increased investment in our rental fleet and continuing improvement in our rental rates. Our achievements this year were made possible by an extremely dedicated team that is fully focused on serving our customers,” said Sunbelt Rentals’ president and CEO Cliff Miller. “In addition to superior performance in our traditionally strong markets, Sunbelt significantly expanded its presence in other under-represented markets. We will continue that focus this year.

“In addition to the investment in new fleet, we’re also investing heavily in our staff development. Employee training and career development programs along with projects to increase sales effectiveness are among our important initiatives.”

The company’s revenue improvements were broadly based with all regions and all major product areas performing better than the previous year. Sunbelt continued to reduce the age of its rental fleet and invest in growth, including the opening of six new greenfield locations and acquisition of 16 new general equipment rental branches. Additionally, organic growth was emphasized as demonstrated by an increase in same-store revenues for the year of 19.3 percent. Sunbelt posted $739.7 million in rental volume, up from $608 million in rental volume in the previous fiscal year.

Sunbelt parent company Ashtead Group PLC last week also reported a strong increase in annual profits in its fiscal year ended April 30. With sales totaling 638 million pounds, about U.S. $1.2 million, Ashtead’s pre-tax profits rose 153 percent year over year, from about U.S. $59 million to about $149 million, based on current currency conversion rates.

Ashtead’s two other divisions are A-Plant, the third-largest equipment rental company in the United Kingdom with 193 locations, and Ashtead Technology Rentals, a niche business renting specialist electronic equipment to the offshore oil and gas sectors and the environmental monitoring and testing industry.

Ashtead also announced the retirement of George Burnett, the company’s chief executive and co-founder, who will retire shortly after his 60^th birthday in September. Geoff Drabble, executive director of Laird Group PLC, will take over as CEO October 2.

Ashtead Group PLC is based in Leatherhead, Surrey, U.K.