Stunning results | Private equity buying| Lowly valuations
News of another private equity funded bid for one of AIM’s larger companies – who will be next - and a profit warning from another in the same sector. There were stunning results from a company supporting the energy sector and also news of a big dividend increase from another lowly valued small cap. Read on here for this and other news. (Free to read)
Stunning results Ashtead Technology (AIM: AT.), a subsea equipment rental and solutions provider for the global offshore energy sector, announced stunning results for the six months ending 30 June 2023. Once wind farms are operational, Ashtead Technology supports customers with inspection, maintenance and repair equipment and services. In the more mature oil and gas sector, Ashtead Technology's focus is also on decommissioning. High demand across both offshore renewables and offshore oil and gas saw group revenues rise 57% to £49.8m, while adjusted pre-tax profit climbed 87.9% to £14.3m (margin 29%). Revenue from Offshore renewables increased by 74.1% to £16.3m while…