Its optimistic outlook contracts with its peers United Rentals in the United States and Speedy Hire and HSS Hire in Britain, which have downgraded their full-year forecasts due to fears about a slowdown in U.S. growth and subdued activity in the oil and gas industry.

The company, which rents out everything from small tools to large diggers and water pumps, posted rental revenue of 539.6 million pounds ($826 million) for its first quarter ended July 31, up 20 percent from last year's 417.7 million.

(Reporting by Li-mei Hoang; Editing by David Holmes)