Berendsen scrubs up well

Work-wear and wash-room facilities provider Berendsen increased profitability in the first half of 2012, despite a small dip in revenues.

Profit before tax rose to £39.6m from £30.4m the year before on revenue that eased to £488.2m from £495.9m, although on an underlying basis (excluding acquisitions and currency effects) revenue rose 2%.

Adjusted profit before tax, which excludes one-off items, rose 6% to £51.5m from £48.4m in the corresponding period of last year.

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Earnings per share improved to 17.1p from 12.9p in the first half 0f 2011.

An interim dividend of 8.0p has been proposed, up from 7.4p last year.

"The board expects first half trading trends to continue for the balance of 2012, resulting in good year on year progress in line with our expectations,2 said Iain Ferguson, Chairman of Berendsen.

JH