Equipment rental giant Ashtead Group on Tuesday lowered its annual UK rental revenue growth forecast to 6% to 9%, from previous outlook range of 10% to 13%, due to softening market conditions.

The British company, which trades under the name Sunbelt Rentals in the United States, kept the rest of its outlook unchanged after reporting an 11% climb in adjusted pretax profit to $615 million in the first quarter ended July 31.

 

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Sherry Jacob-Phillips)