07.03.2006

Strong improvement at Lavendon

The Lavendon Group Europe’s largest powered access company has announced its preliminary results today. They show an operating income up by 28 percent to £7.3 million, while profit before tax was £2.9 million, compared to a £100,000 loss in 2004.

Net debt was reduced by over 25 percent (prior to the recent acquisitions) to £61.7 million. The company says that the new year has started well and expects progress to continue.


John Gordon, the new chairman of Lavendon said, “Strong cash flows over recent years have strengthened the Group’s balance sheet and are now providing the necessary resources to enable us to make acquisitions should we so choose”.

“Since the year end we have made two acquisitions in the UK, both of which are earnings enhancing and it is this investment combined with organic growth that will deliver a significant increase in shareholder value in the medium term. Trading so far this year is in line with our expectations and we look forward to being able to report further progress in the coming months.”