31st Oct 2014 08:09
LONDON (Alliance News) - FTSE 250 textiles company Berendsen PLC on Friday said trading in the third quarter was in line with its expectations, despite its reported revenue for the period falling due to the strength of sterling.
Underlying revenue for the company in the three months to the end of September was up 3% year-on-year, it said, but reported revenue was 3% lower due to the strength of sterling.
It said it had made an improvement in its underlying profit in the period, adding its pretax profit in the period was flat on the period a year earlier, despite the impact of currency translation.
The group said its Workwear business made good progress in the quarter, despite soft market conditions. Its Facility arm saw a good underlying rise in revenue in the period, while its Cleanroom business was delivering "excellent" results, Berendsen said.
Berendsen said its operational performance in the period was good, but it said the impact of the strength of sterling is expected to remain in place for the rest of the year. But it said it still expects to meet expectations for the underlying performance of the business in the full year.
Berendsen shares were up 0.9% to 987.5 pence in opening trade on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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