This morning’s Q3 update confirms a period of continued revenue growth and improved profitability, margin and ROCE (now firmly above WACC). Group rental revenue in the nine months to 30 September was up 1% and the Board remains confident of delivering its profit expectations for the year. Encouragingly, the Group has continued to see growth in the Middle East, with a wider regional spread offsetting pricing pressure in Saudi. We continue to believe that Lavendon’s shares are undervalued on a Cal ....
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Encouraging Q3 update
This morning’s Q3 update confirms a period of continued revenue growth and improved profitability, margin and ROCE (now firmly above WACC). Group rental revenue in the nine months to 30 September was up 1% and the Board remains confident of delivering its profit expectations for the year. Encouragingly, the Group has continued to see growth in the Middle East, with a wider regional spread offsetting pricing pressure in Saudi. We continue to believe that Lavendon’s shares are undervalued on a Cal ....