17 April 2014 – interim management statement
The rental group Lavendon has issued an interim management statement covering the period from 1 January to date. This has revealed that rental revenues have increased by 8% in the first quarter with strong growth seen in the UK, France and the Middle East, although trading has been more difficult in Belgium and Germany. This overall growth in revenues is improving margins and profits and the directors believe the company is on track to achieve its expectations for the year. With pre-tax profits for the year to 31 December 2014 expected to be £33.9m for earnings per share of 15.4p we retain our guidance of BUY.