5th Jul 2006 07:00
Lavendon Group PLC05 July 2006 5 July 2006 LAVENDON GROUP PLC PRE-CLOSE TRADING UPDATE Lavendon Group plc issues the following trading update for the six months ended30 June 2006:- "The Group's revenues for the first half of 2006 have increased by 17% over thesame period last year, through a combination of organic growth and theacquisitions completed in the period. In the UK, revenues have increased by 25% over 2005, and operating margins haveimproved. The revenue growth was achieved through a combination of theunderlying business growing by 2% and by the addition of Panther Work PlatformsLimited, Kestrel Powered Access Limited and AMP Access Limited to the Group'soperations during the first half. Germany's revenues declined by 3% in the first six months of the year, althoughyear on year revenue growth was achieved towards the end of the second quarterenabling further progress to be made in reducing operating losses. Both Franceand Spain have grown revenues by 10% and have improved operating margins. Revenues in the Middle East have increased by 20%, with margins remainingrobust. Net debt levels have increased following the recent acquisitions, but these arewell supported by the Group's strong operational cash flows and improved tradingperformance. Overall, the Group's performance is in line with expectations and the Boardremains confident that further progress will be made in the remainder of theyear." -ends- For further information please contact: Lavendon Group plc Tel: 01455 206 750Kevin Appleton, Chief ExecutiveAlan Merrell, Group Finance Director Weber Shandwick Square Mile Tel: 020 7067 0700Nick Dibden / Lana - Kathryn Pugh This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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