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Interim Results

Berendsen revenues rise

26 July 2017 07:49

Berendsen's adjusted operating profits fell to £65.9m in the six months to the end of June - down from £70.2m last time - a fall of 6.1% on a reported basis and 13.6% underlying.

Revenues rose to £575.1m - up 2.4% on an underlying basis and 7.8% on a reproted basis.

Operating margins of 11.5% were down from 13.2% last time.

On a statutory basis, operating profits fell to £45.2m from £61.7m and pre-tax profits of £36.1m were down from £51.7m.

The group has declared a dividend of 11,0p per share - up 5%.

Chief executive James Drummond said: "The Group continued to make good progress during the first half of 2017.

"The businesses continued to implement the Berendsen Excellence strategy, which is building the foundations for operational improvement, to enable us to serve better our existing customers, and a platform for sustainable growth, to ensure we make the most of the opportunities we see in our markets.

"We have continued to invest in the capabilities of our people, systems and plants, and I am pleased that we are now starting to see those benefits coming through.

"I am confident that our strategy will enable the Group to capture progressively the sizeable opportunity for growth and margin improvement."

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