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.
