18.08.2008

Ahern up 25%

Las Vegas based Ahern Rental has reported first half revenues up 25 percent overall to $191.6 million. Rental revenues increase 21 percent to $162.4 million, while used equipment sales dropped back 14 percent and sales of new equipment almost tripled to $18.1 million.

In spite of the strong increase in revenues pre-tax profits slipped by 30 percent to $4.8 million, due to higher interests costs, higher depreciation and higher sales costs. All associated with the increased rental fleet which is fuelling Aherns expansion outside of the Las Vegas area which now represents around 35 percent of the company’s business.

Almost all of Ahern’s business comes from aerial lifts and telescopic handlers the company has been expanding rapidly to reduce its dependence on the greater Las Vegas area.