18.05.2008

Ahern up 32%

Ahern rentals of Las Vegas, Nevada, has reported total first quarter revenues up 32 percent to $93.5 million. Rental revenues grew by 24 percent to $78.5 million, of which $17 percent was same store growth with the balance coming from the additional five depots that the company has this year compared to last.

Dollar utilisation for the rental fleet dropped two percentage points to 42 percent, but rates improved by one percent compared to last year. 60 percent of the company’s rental income came from high reach equipment.

Sales of used equipment remained flat while sales of new equipment almost tripled to $10.5 million thanks to a specialist sales person.

Pre tax profits slipped by nine percent to $2.38 million, due to higher interest costs, higher overheads and higher depreciation charges. The company maintained its fleet capital expenditure spending $36.7 million.

The company opened its 44th branch in April in El Paso Texas.