Ashtead Group PLC (LSE:AHT) fell over 8% in early trading after the industrial equipment rental firm said slow third-quarter trading meant revenue growth would be at the low end of expectations.
Rental revenue growth in North America was constrained by longer-than-expected strikes by actors and writers, the FTSE 100 firm said in an update, alongside lower emergency response activity to natural disasters.
As a result, full-year rental revenue growth will likely sit at the lower end of the 11% to 13% guided range.
Revenue for the three months to January climbed by 9% to US$2.7 billion, Ashtead added, though operating profit slipped 3% to US$591 million.
Shares slipped 8.3% to 5,250p.