14.04.2016
Strong first quarter for Lavendon
International rental group Lavendon has reported a 13% rise in revenues, with growth in all markets.
In the UK a bigger fleet and better machine mix, saw revenue growth of six percent in the quarter, although the company says that the extra investment has constrained margins in the quarter, but expects the cost to be as the year progresses.
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The Middle East posted revenue gains of 21 percent, with the UAE, Kuwait, Oman and Qatar more than compensating for a decline in the higher margin Saudi Arabian business.
Rental revenues in Continental Europe increased by three percent with France up 11 percent Belgium one percent while Germany slipped back one percent.
The group's net debt level increased to £147 million, on a constant currency basis, compared to £119 million at the start of the year
Chief executive Don Kenny said: "Building on the momentum established towards the end of 2015, we have seen an encouraging start to the year with our continued focus on revenue growth delivering results. This growth reflects the benefits of the strategic investment programme we undertook in 2015, to strengthen our market positions across all our regions. Whilst recognising some uncertainty in the economic outlook, the Board remains confident of making further progress during the year and delivering on its expectations for 2016."
Gasping for air
Dear Malcolm, as I said before it is not aimed at you, I don't care or know anything about your background. Why can't I comment? It is just a coincidence that we are interested in the same things and it is not personal. Stop judging others judge thyself.
If you provided your name I would communicate with you directly. I have a good idea of who you are but I am a little amused by your need to communicate by the use of scriptural references. Bearing mind my background I find it hard not to take your comments as anything other than personal. I do understand language that is not bible based.
Gasping for air
Sorry Malcolm, my comment was not aimed at you but the article above, please don't take everything to heart, turn the other cheek. Perhaps the following would be more apt.
Proverbs 18.2
A fool finds no pleasure in understanding but delights in airing his own opinions.
I didn't take this report to be anything about profits. It was about revenues.
Proverbs 18:13 "he that replies to a matter without knowing the facts is foolish"
Gasping for air
Matthew 7.15
Beware of false prophets, which come to you in sheep's clothing, but inwardly they are ravenous wolves.
Or should it be false profits?
Hats off to Lavendon!
The industry is a better place for us all if its market leader is doing well.