U.K.-based aerial equipment rental specialist Lavendon said its overall revenues for the first quarter increased 8 percent compared with the first quarter of 2011 in its interim statement. The company’s Middle East business paved the way with a 28-percent spike, while France grew 27 percent. Rental revenue growth was more modest elsewhere: 3 percent in Belgium, and 1 percent in Germany and the U.K.
Still, the U.K. remains by far Lavendon’s major market, contributing 48 percent to total group revenues.
In the first quarter, the combination of revenue growth and continued operational improvements enabled further progress to be made in improving profitability, margins and return on capital. The company continues to align the group’s rental fleet to reflect anticipated market demand, as well as making efforts to generate increasing revenues from a smaller but more efficient fleet mix.
The company expects solid progress in line with expectations in 2012.
Lavendon is based in Lutterworth, Leicestershire, U.K.