Berendsen's Q3 in line with expectations

Berendsen, the work-wear and wash-room facilities provider, has reported that trading in the three months to the end of September was in line with expectations, with group underlying revenue up two per cent, although this was down two per cent at the reported level after the impact of currency.

Berendsen, the work-wear and wash-room facilities provider, has reported that trading in the three months to the end of September was in line with expectations, with group underlying revenue up two per cent, although this was down two per cent at the reported level after the impact of currency.

The firm saw a good performance in its Core Growth businesses, with revenue 3% ahead of the same period the previous year on an underlying basis (excluding acquisitions and currency impacts), which was consistent with its first half growth rate.

"We again improved our operating margin and with a lower interest charge, we delivered good growth in adjusted profit before tax," the company said.

"The trading trends we experienced in the first half of 2012 continued in the third quarter of the year with the performances of the business lines also broadly similar to the first half. In particular, our higher margin Facility business continued to deliver revenue growth in excess of the group average.

"The board continues to expect good year on year progress for the full year 2012."

Free cash flow has been strong during the three month period, and the firm met its objective of converting in excess of 100% of its adjusted profit after tax.

As a result, net debt at September 30th was around £470m, down from £514m at the beginning of the year. The group said its funding position remains "robust" with approximately £800m of private placement notes and facilities, most of which are committed to 2016 and beyond.

NR

Recommended

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
6 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

NS&I brings back one-year fixed bonds with highest rates since 2010
Personal finance

NS&I brings back one-year fixed bonds with highest rates since 2010

NS&I’s one-year fixed bonds are back on sale after being pulled off the market in 2019 - but is the rate any good?
1 Feb 2023
How to invest like an ISA millionaire
Investments

How to invest like an ISA millionaire

We reveal the top funds and trusts ISA millionaires pumped their money into
6 Feb 2023
The best one-year fixed savings accounts - February 2023
Savings

The best one-year fixed savings accounts - February 2023

Earn almost 5% on one-year fixed savings accounts.
6 Feb 2023