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Ashtead to Gain From U.S. Shift to Rentals, CEO Says

Ashtead Group Plc, a U.K. equipment-rental company operating the Sunbelt Rentals brand, expects to benefit with a shift from buying to renting construction-gear in the U.S., its biggest market, Chief Executive Officer Geoff Drabble said.

In the U.S., rentals have risen to 40 percent of the construction-equipment market from 25 percent before the credit crisis, Drabble said. Rentals may account for half of that market in a few years, he said. Full-year profit dropped as results included one-time costs for the early redemption of senior secured notes, the London-based company said today in a statement.