Crossrail will be on time and budget thanks to Olympics training, says Ashtead chiefComments Off on Crossrail will be on time and budget thanks to Olympics training, says Ashtead chief
Crossrail will come in on time and on budget because the UK construction industry learnt valuable skills and lessons from the 2012 Olympics, the boss of tool hire firm Ashtead has said.
UK contractors got used to working on more complex tasks during the mammoth project, according to chief executive Geoff Drabble, which helped construct Crossrail more efficiently.
“The construction industry has moved up a level after learning from the Olympics” he said.
“Given the amount of dirt we’ve moved around recently, London has not ground to a halt.”
Ashtead lends out small equipment like diggers to contract workers for short periods of time and has been involved in projects such as Crossrail and Battersea Power Station.
The firm’s main market is in the US, where it owns the Sunbelt Rentals brand. This helped it to avoid a UK market slump, which has hit rivals like HSS and Speedy Hire.
Ashtead reported a 21% rise in statutory revenue for the six months ending 31 October to £1.3 billion, driving pre-tax profits 20% higher to £332 million. The interim dividend is raised by a third to 4p from 3p last year. The shares jumped 7% to 1106p.