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Tue June 15 2021

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Pricing pressure hits Lavendon

11 Jul 13 Access platform hire company Lavendon, which trades in the UK mostly as Nationwide Platforms, has seen its UK rental revenues shrink 6% in the first half of 2013 due to soft rental rates.

Nationwide has had to cut its prices to keep utilisation up, it said.

In a trading update for shareholders this morning, Lavendon said that its UK revenues had shown some improvement during the second quarter as weather conditions improved, but market conditions remained difficult.

“Whilst overall volumes are broadly in line with the prior year, this has been partly at the expense of pricing in order to maintain market share,” it said.

Lavendon’s UK operations account for 46% of group revenue. Operations in Germany (20%) and Belgium (6%) also suffered declines in the first half, but there was a strong 30% growth in revenues from the Middle East, which now accounts for 19% of group revenues.

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