Revolt at Ashtead

PLANT-hire firm Ashtead has suffered a revolt over pay despite bumper results as 32pc of investors refused to back proposed remuneration. There were concerns it was too easy for bosses to scoop windfalls.

There has been criticism that the targets set to trigger payouts do not take account of the wider market, which Ashtead is susceptible to.

Because US construction, its biggest market, is booming, the company has enjoyed a string of strong results. Yesterday it said threemonth profits rose 23pc to £160m.

Shares climbed 71p or 8pc to 988p.