Q1 2022 Ashtead Group PLC Earnings Call (Bondholders) Transcript
Thank you and good afternoon, everyone. Joining myself and Brendan on the call today, also Will Shaw, our Director of Investor Relations. The webcast of our earlier analyst meeting and the related slide presentation are available on our website and I will refer to these slides during the call. So, I will start by covering some financial highlights in case you missed that webcast and then we'll open the call up for questions.
As an overview, we had a strong quarter with the momentum we saw in Q4 last year continuing through the first quarter and into the second quarter this year. The Group's results for the first quarter are shown on slide 7 and, as you can see, they are presented in US dollars.
We announced with our full-year results in June our move to reporting in dollars from the start of this year, and so this is our first set of results presented in dollars. As a result some of the figures may be unfamiliar both to you and me.
Group rental revenue increased 22% on a constant currency basis against COVID affected comparators. However,
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