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Lavendon - Forecasts raised again

February 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • LVD
  • Price:
  • 374p
Lavendon, which rents out powered access equipment such as scissorlifts and boom lifts, has again produced a sparkling trading updatewhich showed revenues increasing 49% in the 11 months ending 30November, reflecting both organic growth and acquisitions. Groupoperating margins have also improved significantly in the period. Growth was seen in most of its territories with the UK showing a 31%increase (like-for-like 11.5%). Germany rose 123% (14% like-for-like)and the Middle East increased 71% with  only France seeing adecline in sales of 7%, although the recent acquisition of DK RentalFrance should give it much needed scale going forward. Although netdebt has increased following its latest acquisition, it remains wellsupported ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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