Lavendon trades as Nationwide Platforms in the UK and is the market leader in hiring out elevating work platforms. The UK accounts for 47% of Lavendon’s business; it also operates in the Middle East and mainland Europe.
Nationwide Platforms saw year-on-year rental revenue growth of 10% in the first quarter of 2014, 11% in Q2 and 8% in Q3, but this tailed off to 1% in the fourth quarter.
In a trading update, Lavendon said: “In the UK, the trend of improving pricing and a more favourable machine mix continued, absorbing the expected lower volumes and producing a revenue growth of 1% for the fourth quarter. This revenue growth together with further operational efficiencies has continued to drive margin improvements during the quarter, and for the year as a whole, despite increasingly challenging comparators.”
Financial results for 2014, to be announced next month, will be at the top end of expectations, the company said.
Got a story? Email news@theconstructionindex.co.uk
