01.03.2008

Profits up 43% at United

United Rentals, the world’s largest equipment rental company which operates the world’s largest aerial lift fleet, has confirmed rental revenue growth of four percent in 2007, while pre-tax profits increased by almost 43 percent.

Total revenues increased by 2.5 percent to $3.7 billion while general rental revenues were up by four percent to $2.6 billion. Operating income from general rental grew by six percent.

Gross margins nudged upwards by 1.5 percent to $1.3 billion, but lower interest costs combined with lower sales and admin overhead produced the 42.7 percent pre tax profit improvement to $578 million.

The company has cut back its capital expenditure for 2008 overall but has said that it will increase expenditure on aerial lifts. The company is anticipating rental revenue growth in 2008 of around three percent.