Q4 2019 Ashtead Group PLC Earnings Call (Bondholders) Transcript
Hello, and welcome to the Ashtead Group plc Full Year and Fourth Quarter Results Bondholder Call. (Operator Instructions)
Just to remind you, this conference call is being recorded. Today, I am pleased to present Michael Pratt, Finance Director. Please go ahead with your meeting.
Good afternoon, and hi, everyone. With me today, I've got Brendan, our Chief Executive; and Will Shaw, our Director of Investor Relations. The webcast of earlier -- our earlier analyst meeting and the related slide presentation is available on the website, and I'll refer to these slides during our call. So I'll begin by covering some of the financial highlights, and then we'll move on to Q&A as we talked about.
So as an overview, we had another strong year. Slide 5 sets out the results for the year ended -- that year ended April 2019, with group rental revenue increasing 18% on a constant currency basis, driven by strong growth in the U.S. and Canada. Margins are
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