Ashtead Group Rental Revenue Growth

planned

Ashtead Group, a UK company hiring out construction and industrial equipment under the Sunbelt Rentals brand in America, has warned of slowing rental revenue growth in its current financial year due to continued weakness in the US construction market. The company reported that project completions outpace new ones in local non-residential construction, but mega project activity remains robust, especially in data centre, semi-conductor, and liquefied natural gas sectors. Ashtead forecasts annual rental revenue growth between flat and 4 percent, signaling a slowdown from the previous 4 percent growth to £9.98 billion for the year ending April.