Berendsen trading in line

Work-wear and wash-room facilities provider Berendsen said trading in the first three months of the year was in line with expectations and it expects to achieve good progress during the remainder of the year.

Work-wear and wash-room facilities provider Berendsen said trading in the first three months of the year was in line with expectations and it expects to achieve good progress during the remainder of the year.

Revenue increased 5% from the start of January to date and rose 8% at its Core Growth businesses.

Excluding foreign currency exchange and the acquisitions it made last year, revenue was up 2% and increased 3% at Core Growth businesses.

"We delivered an encouraging improvement in operating margin in the first quarter of the year and with lower interest costs due to our strong cash flow, our reported profit before tax for the quarter was well ahead of last year," the group said in a company statement.

Net debt is slightly lower than at the start of the year, notwithstanding an adverse currency translation.

"With our strong cash flow and committed funding, the majority of which extends to 2016 or beyond, we are well positioned to support our growth initiatives," it added.

Berendsen said it has made a good start to the current year with trading in line with expectations and expects another year of good progress.

CJ

Recommended

Share tips of the week – 24 September
Share tips

Share tips of the week – 24 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
24 Sep 2021
Three strong Asian stocks trading at bargain prices
Share tips

Three strong Asian stocks trading at bargain prices

Professional investor Nitin Bajaj of the Fidelity Asian Values investment trust picks three stocks that dominate their industries, earn good returns o…
20 Sep 2021
Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021

Most Popular

Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021