Ashtead Technology hikes divided after double-digit profit growth

(Alliance News) - Ashtead Technology Holdings PLC on Tuesday reported double-digit growth in both revenue and profit for 2025, as it expressed optimism around delivering further progress in 2026.

The Aberdeen, Scotland-based provider of subsea technology posted GBP41.2 million in pretax profit for 2025, up 14% from GBP36.1 million in 2024. Driving this advance was a 21% top-line gain, as revenue grew to GBP203.2 million from GBP168.0 million.

The company reported organic revenue growth of 3%, with inorganic revenue growth of 19%, but noted a slight currency exchange headwind as it integrated two acquisitions ahead of schedule, adding depth and scale to its international locations.

Ashtead Technology proposed a final dividend, equivalent to the total dividend, of 1.3 pence per share, an 8.3% hike from 1.2 pence per share in 2024.

On current trading, the company said its performance within the first two months of the year has been in line with managements expectations.

Ashtead said its growth strategy is underpinned by "strong market fundamentals", noting that its addressable market within its focused end markets of oil & gas and offshore renewables is forecast to grow at a compound annual growth rate of 6% to USD3.4 billion by 2029.

The company said it is "closely monitoring" the situation in the Middle East, as it noted the recent volatility in the oil and gas markets. "Absent extended or wider disruption, the board remains confident in delivering further progress in 2026," it said.

Shares in Ashtead Technology were up 2.2% to 375.00 pence each on Tuesday morning in London.

Chief Executive Officer Allan Pirie said: "We delivered a strong performance in 2025, making significant financial, strategic and operational progress against a challenging and unpredictable geopolitical and market backdrop...Our strategy remains to further internationalise and diversify our business, expanding our differentiated global services platform, our scaled, diversified footprint, and the mission-critical solutions we offer".

"We are mindful of the evolving situation in the Middle East and continue to monitor this closely. The conflict further reinforces the importance of energy security, which coupled with a growing demand for energy creates an enduring platform for long-term growth across the markets in which we operate," he added.

By Martin Miraglia, Alliance News reporter

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