U.K.’s Lavendon Lifts with Strong First Half

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.
Aug. 28, 2015

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.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.

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