Berendsen sees margin improvements ahead of half year results

The textile maintenance business, Berendsen, says it will post flat revenues in the half year to the end of June, after taking into account currency effects.

The firm sources and cleans workwear and linen for industrial uses like hotels.

Berendsen says growth in the last six months has been around 2% compared to 2010/11 but with many of the operations outside of the UK there are significant forex translation costs.

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In today's statement the firm added: "We expect to deliver an increase in operating margin at the half year and, notwithstanding the impact of currency and the higher interest costs from last year's refinancing, our reported profit before tax is expected to be moderately ahead of last year's first half."

The stock was up 1% at 09:03.

BS