31st Jul 2015 06:59
LONDON (Alliance News) - Textile services company Berendsen PLC on Friday said its profit and revenue both took a hit from the weak euro in the first half of 2015, but it hiked its dividend as its underlying revenue improved in the period.
The FTSE 250-listed company said its pretax profit in the first half fell to GBP48.5 million from GBP50.6 million, as revenue fell to GBP493.7 million from GBP517.3 million. At constant currencies, however, revenue was up by 3% in the half and rose by 2% on an underlying basis, which strips out the contribution from acquisitions.
The company said it will pay an interim dividend of 10 pence per share, up 5% from the 9.5p it paid a year earlier thanks to the more robust underlying performance of the business.
"We are pleased to report good operational progress for the period in line with our expectations and continued momentum towards achieving our strategic objectives. Our reported results were adversely impacted by currency translation and, although this is likely to persist, the board expects to achieve a further year of good underlying progress in 2015," said Iain Ferguson, Berendsen's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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