Lavendon has issued a positive Q2 trading update this morning. Group revenue for H1 was +3% on a constant currency basis and excluding ex-fleet equipment sales. Profitability and margins have continued to improve, driving ROCE further above the Group’s WACC. In our note on Tuesday we cited that fleet investment would underpin further revenue growth for the Group. Today’s update confirms that fleet investment will be accelerated to bring forward c.£20m from 2016 to 2015. As we said in our recent ....
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In line trading update
Lavendon has issued a positive Q2 trading update this morning. Group revenue for H1 was +3% on a constant currency basis and excluding ex-fleet equipment sales. Profitability and margins have continued to improve, driving ROCE further above the Group’s WACC. In our note on Tuesday we cited that fleet investment would underpin further revenue growth for the Group. Today’s update confirms that fleet investment will be accelerated to bring forward c.£20m from 2016 to 2015. As we said in our recent ....