Ashtead Technology Holdings PLC - Aberdeenshire, Scotland-based subsea equipment rental company for the offshore energy sector - Expects 2024 revenue of £168 million, slightly beating the analyst consensus of £167 million, and up 52% from £110.5 million in 2023. Further, anticipates adjusted earnings before interest, tax, depreciation and amortisation for 2024 ahead of the consensus of £46.6 million, and higher compared to £36.2 million in 2023. ‘A strong trading end to 2024, ongoing market demand and record customer backlogs provides confidence that growth will continue through 2025 in line with previous guidance,’ Ashtead Technology says.

Chief Executive Officer Allan Pirie says: ‘The integration of Seatronics and J2 Subsea is progressing well and provides further positive momentum for growth. With one of the largest and most technologically advanced rental fleets in the industry and a continued focus on operational excellence, we remain confident in the Group’s ability to generate substantial long-term value for shareholders.’

Current stock price: 609.00 pence each, up 9.5% on Thursday morning in London

12-month change: up 0.8%

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