News:
Berendsen continue to grow into the European market
Berendsen revenues up, in line with expectations
Results were in line with expectations (Source: Reuters)
UK laundry service provider
Berendsen has announced that trading was in line with management
expectations for the half-year ending 30 June 2014.
At constant exchange rates, group
underlying revenue was up 3 per cent year-on-year. Underlying revenue
increased by the same amount in its core growth business.
Revenues were calculated as being one per
cent lower year-on-year when the impact of currency translation was
taken into account.
They reported: “Whilst our reported
results will be influenced by the impact of currency translation, on an
underlying basis, we have made good progress for the first half of the
year in line with management's expectations, and the Board continues to
expect to achieve further good progress for the year as a whole."
In particular, the company has started to
reap the rewards of contract wins outside the UK for their Flat Linen
business. However, the profits have been lowered by the contract
re-pricing in the second half of last year and start-up costs on these
new contracts.
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