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 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.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
London claims victory in the Brexit warsOpinion JPMorgan Chase's decision to build a new headquarters in London is a huge vote of confidence and a sign that the City will remain Europe's key financial hub
-
Rachel Reeves's Autumn Budget: What it means for the UKOpinion A directionless and floundering government has ducked the hard choices at the Autumn Budget, says Simon Wilson
