Listing threat: FTSE 100 equipment rental company Ashtead has reported a fall in annual profits
Ashtead admitted it has looked at listing its shares in New York, in what would be another setback for the City.
As the FTSE 100 equipment-rental company reported a fall in annual profits, chief executive Brendan Horgan told analysts that the board regularly discusses its ‘listing residency’.
He insisted the group has no plans to move right now – but the comments failed to quell speculation that one could take place in due course.
Reports this month suggested that Ashtead was in the early stages of making a move across the Atlantic. The Square Mile has recently seen a flurry of London-listed firms call it quits.
Horgan’s comments came as Ashtead posted a 2 per cent slide in annual profits to £1.7billion and revenues rose by 12 per cent to a lower-than-expected £8.5billion. Ashtead said it expects revenue growth to slow in the coming year.
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