StockMarketWire.com
- Berendsen's trading in the first five months of the year was in line
with its expectations with underlying revenue, at constant exchange
rates, up 3%.
Underlying revenues in its core growth businesses
was also up 3% but reported revenue for the group, including the impact of currency translation, was 1% below last year.
The company's
trading update says: "We made further progress in our underlying
operating profit with operating margins up in each of our Core Growth
businesses.
"Workwear experienced little help from its markets in Continental Europe but has continued to make progress, including the conversion to CL2000 of plants in the UK.
"In Facility we are continuing to convert the good opportunities we have for higher levels of organic revenue. Our UK Flat Linen business increased revenues with continued momentum in underlying volumes in our hotel customer segment. In line with our strategy, we have continued to transfer operational best practice in all our business lines, capturing significant productivity improvements and, in the UK, allowing further consolidation of our plant network.
"As expected, we have started to see the revenue benefits of the contract wins in Flat Linen outside the UK, and as previously indicated profits are lower as a result of the contract re-pricing in the second half of last year and start-up costs on these new contracts.
"Interest costs were lower due to our strong cash flow and our reported profit before tax was ahead of last year for the first five months.
"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." Story provided by
StockMarketWire.com - See more at:
http://www.stockmarketwire.com/article/4837465/Berendsen-in-line.html#sthash.bb5nop0v.dpuf
Underlying revenues in its core growth businesses
was also up 3% but reported revenue for the group, including the impact of currency translation, was 1% below last year.The company's
trading update says: "We made further progress in our underlying
operating profit with operating margins up in each of our Core Growth
businesses. "Workwear experienced little help from its markets in Continental Europe but has continued to make progress, including the conversion to CL2000 of plants in the UK.
"In Facility we are continuing to convert the good opportunities we have for higher levels of organic revenue. Our UK Flat Linen business increased revenues with continued momentum in underlying volumes in our hotel customer segment. In line with our strategy, we have continued to transfer operational best practice in all our business lines, capturing significant productivity
improvements and, in the UK, allowing further consolidation of our plant network."As expected, we have started to see the revenue benefits of the contract wins in Flat Linen outside the UK, and as previously indicated profits are lower as a result of the contract re-pricing in the second half of last year and start-up costs
on these new contracts."Interest costs were lower due to our strong cash flow and our reported profit before tax was ahead of last year for the first five months.
"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." Story provided by
StockMarketWire.com - See more at:
http://www.stockmarketwire.com/article/4837465/Berendsen-in-line.html#sthash.bb5nop0v.dpufAlliance News
Berendsen Trading In Line With Expectations, Warns On Lower Revenue
Fri, 27th Jun 2014 11:13
LONDON (Alliance News) - Laundry and textile-maintenance business Berendsen PLC Friday said trading in the first five months of the year has been in line with management's expectations, with pretax profit up on last year, although reported revenue, including the impact of currency translation, fell 1% on the previous year.
FTSE 250-listed Berendsen said underlying revenue for the group, at constant exchange rates, was up 3% compared with the same period a year earlier, while in its Core Growth businesses, underlying revenue increased 3%.
Core Growth is made up of the Workwear, Facility and Flat Linen businesses.
The London-headquartered company said its Workwear arm continued to make progress despite receiving little help from its markets in Continental Europe.
On the other hand, the Facility business, which provides washroom and clean room services, continued to "convert the good opportunities we have for higher levels of organic revenue," Berendsen said.
The UK Flat Linen business increased revenues with continued momentum in underlying volumes in the hotel customer segment. Berendsen said it is also starting to see the revenue benefits of contract wins in Flat Linen outside the UK.
However, Berendsen said that, as it had previously indicated, profits are lower as a result of contract re-pricing in the second half of last year and start-up costs on these new contracts.
Berendsen shares were quoted up 0.5% at 982.50 pence Friday morning.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
http://www.lse.co.uk/AllNews.asp?code=tj5g7fw1&headline=Berendsen_Trading_In_Line_With_Expectations_Warns_On_Lower_Revenue
Berendsen in line
StockMarketWire.com
- Berendsen's trading in the first five months of the year was in line
with its expectations with underlying revenue, at constant exchange
rates, up 3%.
Underlying revenues in its core growth businesses was also up 3% but reported revenue for the group, including the impact of currency translation, was 1% below last year.
The company's
trading update says: "We made further progress in our underlying
operating profit with operating margins up in each of our Core Growth
businesses.
"Workwear experienced little help from its markets in Continental Europe but has continued to make progress, including the conversion to CL2000 of plants in the UK.
"In Facility we are continuing to convert the good opportunities we have for higher levels of organic revenue. Our UK Flat Linen business increased revenues with continued momentum in underlying volumes in our hotel customer segment. In line with our strategy, we have continued to transfer operational best practice in all our business lines, capturing significant productivity improvements and, in the UK, allowing further consolidation of our plant network.
"As expected, we have started to see the revenue benefits of the contract wins in Flat Linen outside the UK, and as previously indicated profits are lower as a result of the contract re-pricing in the second half of last year and start-up costs on these new contracts.
"Interest costs were lower due to our strong cash flow and our reported profit before tax was ahead of last year for the first five months.
"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." Story provided by
StockMarketWire.com
- See more at: http://www.stockmarketwire.com/article/4837465/Berendsen-in-line.html#sthash.bb5nop0v.dpufUnderlying revenues in its core growth businesses
was also up 3% but reported revenue for the group, including the impact of currency translation, was 1% below last year.The company's
trading update says: "We made further progress in our underlying
operating profit with operating margins up in each of our Core Growth
businesses. "Workwear experienced little help from its markets in Continental Europe but has continued to make progress, including the conversion to CL2000 of plants in the UK.
"In Facility we are continuing to convert the good opportunities we have for higher levels of organic revenue. Our UK Flat Linen business increased revenues with continued momentum in underlying volumes in our hotel customer segment. In line with our strategy, we have continued to transfer operational best practice in all our business lines, capturing significant productivity
improvements and, in the UK, allowing further consolidation of our plant network."As expected, we have started to see the revenue benefits of the contract wins in Flat Linen outside the UK, and as previously indicated profits are lower as a result of the contract re-pricing in the second half of last year and start-up costs
on these new contracts."Interest costs were lower due to our strong cash flow and our reported profit before tax was ahead of last year for the first five months.
"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." Story provided by
StockMarketWire.com Berendsen in line
StockMarketWire.com
- Berendsen's trading in the first five months of the year was in line
with its expectations with underlying revenue, at constant exchange
rates, up 3%.
Underlying revenues in its core growth businesses was also up 3% but reported revenue for the group, including the impact of currency translation, was 1% below last year.
The company's
trading update says: "We made further progress in our underlying
operating profit with operating margins up in each of our Core Growth
businesses.
"Workwear experienced little help from its markets in Continental Europe but has continued to make progress, including the conversion to CL2000 of plants in the UK.
"In Facility we are continuing to convert the good opportunities we have for higher levels of organic revenue. Our UK Flat Linen business increased revenues with continued momentum in underlying volumes in our hotel customer segment. In line with our strategy, we have continued to transfer operational best practice in all our business lines, capturing significant productivity improvements and, in the UK, allowing further consolidation of our plant network.
"As expected, we have started to see the revenue benefits of the contract wins in Flat Linen outside the UK, and as previously indicated profits are lower as a result of the contract re-pricing in the second half of last year and start-up costs on these new contracts.
"Interest costs were lower due to our strong cash flow and our reported profit before tax was ahead of last year for the first five months.
"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." Story provided by
StockMarketWire.com
- See more at: http://www.stockmarketwire.com/article/4837465/Berendsen-in-line.html#sthash.bb5nop0v.dpufUnderlying revenues in its core growth businesses
was also up 3% but reported revenue for the group, including the impact of currency translation, was 1% below last year.The company's
trading update says: "We made further progress in our underlying
operating profit with operating margins up in each of our Core Growth
businesses. "Workwear experienced little help from its markets in Continental Europe but has continued to make progress, including the conversion to CL2000 of plants in the UK.
"In Facility we are continuing to convert the good opportunities we have for higher levels of organic revenue. Our UK Flat Linen business increased revenues with continued momentum in underlying volumes in our hotel customer segment. In line with our strategy, we have continued to transfer operational best practice in all our business lines, capturing significant productivity
improvements and, in the UK, allowing further consolidation of our plant network."As expected, we have started to see the revenue benefits of the contract wins in Flat Linen outside the UK, and as previously indicated profits are lower as a result of the contract re-pricing in the second half of last year and start-up costs
on these new contracts."Interest costs were lower due to our strong cash flow and our reported profit before tax was ahead of last year for the first five months.
"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." Story provided by
StockMarketWire.com
Berendsen in line
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