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Ashtead Technology – interims argue “build on the strong momentum seen through 2023”, but is it?…

By Steve Moore | Monday 2 September 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Describing itself as “a leading subsea equipment rental and solutions provider for the global offshore energy sector”, Ashtead Technology (AT.) has announced results for the first half of 2024 emphasising “extremely pleased to deliver another record trading performance as we build on the strong momentum seen through 2023” and “the outlook for our business remains positive given the strength of the global offshore energy market and our continued investment to support longer term growth”. So what of a current more than 10% lower share price response to 700p?
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