U.K.-based aerial equipment rental specialist Lavendon returned to growth in the second quarter with total and rental revenues increasing by 1 percent compared to 2012’s second quarter. As a result of a soft first quarter, Lavendon’s total revenue declined 2 percent for the first six months of the year.
Lavendon’s European businesses, including the U.K., all showed improved revenue trends in the second quarter, with considerable improvement in Germany and France. In the U.K., revenues improved in the second quarter as the weather improved.
Revenue growth was strong in the Middle East, with rental revenue leaping 30 percent for the first half of 2013 compared to 2012. The market outlook for the region remains strong, the company said.
“The strong revenue growth seen in our French and Middle East businesses in the first half has offset the revenue weakness experienced in our other markets, illustrating the strength and benefit of the group’s geographic diversity,” said Don Kenny, Lavendon chief executive. “Our margins and profitability have continued to improve in the period, ensuring we are well placed to demonstrate further progress in our key objective of increasing our return on capital employed during 2013. Whilst ever mindful of the continuing economic uncertainties in our European markets, the board remains confident of delivering its expectations for the year.”
Lavendon is based in Lutterworth, Leicestershire, U.K.
