United Kingdom-based Lavendon, a high-reach rental specialist, posted £119.1 million (about U.S. $183.3 million) in revenue for the first six months of 2015, a 1-percent revenue boost, with strong revenue growth in its Middle East and French operations. Group underlying operating profit increased by 13 percent, with margins jumping 14.1 percent.
U.K. margins leapt 15.2 percent. Return on invested capital jumped 12.7 percent.
“I am pleased with the group’s performance in the first half of the year, where we delivered growth in revenues, profitability, margins and ROCE,” said Don Kenny, chief executive of the Lavendon Group said. “We are allocating an additional £20 million of capital in 2015, increasing the level of fleet investment in the Middle East, U.K., and France to add capacity in support of our growth plans. Our strong financial position enables us to accelerate our investment plans in response to customer demand and we will continue to use our operational flexibility to build momentum and scale going forward.”
Lavendon is headquartered in Lutterworth, Leicestershire, U.K.