1st Nov 2013 08:46
LONDON (Alliance News) - Laundering and textile-maintenance business Berendsen PLC Friday said reported revenue for the three months ended September 30 was up 9% compared with the same period last year, reflecting a strong performance across the business.
In an interim management statement for the period July 1 to September 30, the company said, excluding the benefit of foreign currency exchange translation and the acquisitions it made last year, underlying revenue was ahead by 4%.
Berendsen said it delivered an improved operating margin during the period and with lower interest costs due to a strong cash flow. It said reported pretax tax for the quarter was "well ahead" of last year.
The Workwear division continued to make "top-line progress and delivered strong profit growth in the period", Berendsen said.
The Facility business saw higher levels of revenue growth than in the first half, the company said.
Berendsen said its free cash flow remains strong and as a result net debt is substantially lower than at the start of the year.
Berendsen shares were up 12.00 pence per share early Friday at 982.50 pence.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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