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Ashtead raises profit expectations after strong first half

Reuters - UK Focus

LONDON, Dec (Shanghai: 600875.SS - news) 9 (Reuters) - British industrial equipment hire group Ashtead expects full-year results to be ahead of forecasts after posting a 21 percent rise in pretax profit for the first half of its fiscal year.

The company said on Wednesday pretax profit rose to 342.7 million pounds ($515.3 million) in the six months ended Oct (HKSE: 3366-OL.HK - news) . 31, up from 265.5 million pounds a year earlier.

Ashtead also raised its full year guidance for capital expenditure to around 1.1 billion, citing growth opportunities in its markets.

($1 = 0.6651 pounds) (Reporting by Li-mei Hoang; Editing by Mark Potter)