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UK firm hoping to cash in on Trump's plan for a US-Mexico wall

The boss of UK-based equipment hire firm Ashtead has said it hopes to cash in if Donald Trump goes through with plans to build a wall with Mexico.

Ashtead looks set to benefit from a promised infrastructure spending splurge by the President-elect worth hundreds of millions of dollars.

Most of the group's business comes from the US.

Chief (Taiwan OTC: 3345.TWO - news) executive Geoff Drabble played down expectations on how much it would gain saying it would take time for any plans to be put in place.

But he told Sky News: "People are confident that it will elongate what is already a very good construction environment in North America.

"If he builds any walls, or builds any structures in America, we would certainly hope it's our equipment."

Mr Drabble added that plans to cut corporation tax by Mr Trump could be a "huge benefit" and that it did not expect to lose out as a result of protectionist rhetoric over the US economy.

"The majority of our work is in America," he said.

"On a local depot basis we're very much seen as an American business (Other OTC: ARBU - news) ."

Mr Drabble said Ashtead was also hopeful about long-term infrastructure investment in the UK.

The chief executive was speaking as the company reported a 9% rise in profits to £426m for the six months to the end of October.

It said it expected full-year results to beat forecasts, helped by strong growth in its North American business.