29.07.2007

RSC up 6%

RSC one of the worlds largest rental companies has reported a 14 percent increase in its rental revenues to $733 million for the first six months of 2007. Although the growth rate slowed marginally in the second quarter.

Sales of used and new equipment were substantially down reducing year on year growth to just over six percent compared to last year. Total revenues were $849 million.

Profits before tax dropped by almost 60 percent due to higher SG&A costs, a $23 million management fee and massively higher interest costs which included prepayment penalties when debt was retired after the company’s flotation earlier this year.

Utilisation in the second quarter improved by two percent to almost 74 percent, a new company record.