British aerial rental specialist Lavendon last week said revenues for the first five months through May have risen 37 percent, in line with expectations. The company said U.K. revenues increased 30 percent during the first five months, with healthy operating margins. Its recently acquired unit The Platform Company has been performing in line with expectations, Lavendon officials said.
The group said net debt levels increased as anticipated after the Platform acquisition, but are well supported by strong operational cash flows.
Lavendon said revenues from its German businesses in sterling terms increased by 5 percent but on a local currency basis are down 4 percent because of the merging of two units. The company’s French and Belgian businesses enjoyed revenue jumps of 307 percent follow its acquisition of DK Rental in December. Revenues leapt 175 percent in Spain following the acquisition of DK Rental Spain. Total revenues in the Middle East grew by 13 percent, with underlying rental revenues jumping 33 percent.
Lavendon Group Plc is based in Lutterworth, Leicestershire, England.