StockMarketWire.com - Equipment rental company Ashtead raised its outlook on full-year performance after reporting 'strong' first-quarter results.

The forecast for annual revenue was raised to a range of 13% to 16% from 6% to 9% previously.

'[W]e now expect business performance this year to be ahead of our previous expectations,' the company said.

For the three months ended 31 July, pre-tax profit jumped 74% to $416 million year-on-year as revenue increased 21% to £1.85 billion.



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