19th Nov 2015 08:29
LONDON (Alliance News) - Textile services company Berendsen PLC on Thursday said trading in the four months to the end of October was in line with its expectations, with underlying revenue and operating profit both growing.
The company said its underlying revenue rose 3.0% in the period, with underlying operating profit also making progress. Underlying revenue growth for the first ten months of 2015 was 2.4%, while its underlying operating profit margin improved 30 basis points. Reported revenue, however, fell 4.0% for the year due to an adverse currency translation effect. The underlying figures are all in constant currency.
The group's Workwear business made solid progress in the half, with revenue up and its market share rising, while its Facility and Cleanroom businesses both delivered robust organic growth. UK Flat Linen revenue was flat.
Berendsen said it expects its reported results will take a hit from currency translation effects, but said it anticipates making progress at the underlying, constant currency level.
Shares in Berendsen were up 1.6% to 1,045.72p on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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