The United Kingdom’s leading equipment rental company Speedy Hire posted a 4.8-percent year-over-year increase in its fiscal fourth quarter ended March 31, the company said. Its U.K. Asset Services business increased by 3.9 percent compared to the prior year quarter, excluding fleet equipment sales, despite lower revenues within both the engineering services and space operations.

Excluding the expiration of a network rail maintenance contract within the engineering services group, fourth-quarter revenue for U.K. Asset Services increased 6.5 percent.

Speedy Hire expects full-year revenue to be higher than £350 million (about U.S. $570 million). It will officially announce its full-year results May 18.

The company remains cautious about its short-term recovery prospects, noting cost pressures in the U.K. and political tensions in the Middle East, where the company does growing business.

Speedy Hire is based in Newton-le-Willows, Merseyside, U.K.