Ashtead Group PLC Q1 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Karl Green - RBC Capital Markets, Research Division - Analyst : Annelies has actually asked the substance of one of my first questions. But I suppose just following on from the supply bottlenecks. Are you noticing any difference between general versus specialty equipment in terms of stuff you'd like to get your hands on, which is perhaps a little bit more REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 16, 2021 / 9:00AM, AHT.L - Q1 2022 Ashtead Group PLC Earnings Call difficult. I appreciate you've been very clear you're at the -- at the front of the queue here, but any kind of nuance there between general and specialty? And then secondly, completely unrelated, just in terms of the U.K. performance, I'm just sort of backing out the numbers. It looks like there was again very strong levels of new equipment merchandising consumable sales in Q1, which is consistent with the kind of dynamics you've seen in Q4. Just going forward, just thinking about that potentially unwinding because presumably that is related to the Department of Health. What sort of margin dynamics might we see associated with that on an unwind? Is it going to be positive, negative? Just some help there would be great.