LVD.L Regulatory News (LVD)

28 Apr 2006 07:01

Lavendon Group PLC28 April 2006 LAVENDON GROUP PLC AGM STATEMENT - TRADING UPDATE Lavendon Group plc, Europe's market leader in the rental of powered accessequipment, will give the following trading update at the Company's AnnualGeneral Meeting to be held at 10.30am this morning:- "The Group's revenues for the first quarter have increased by 16% when comparedto the same period last year, reflecting both organic growth and its recentacquisitions. Turnover in the UK has increased by 22% over 2005, through a combination ofunderlying year on year business growth of 3% and the addition of Panther WorkPlatforms Limited and Kestrel Powered Access Limited to the Group's operationsin February of this year. Operating margins have continued the trend ofimprovement established in 2005, and have been further enhanced by theacquisitions. In Germany, whilst revenues have declined by 3%, further progress has been madein reducing operating losses. In France and Spain, where revenues have grown by20% and 12% respectively, operating margins have also improved. Demand remains robust in the Middle East, where revenues have grown by 10% andmargins continue to be healthy. Although net debt has been increased by the acquisitions, with the strongoperational cash flows that the Group is generating, the debt levels remaincomfortable. Overall, the Group has made an encouraging start to the year in line with ourexpectations." 28 April 2006 For further information please contact: Lavendon Group plc 01455 558874Kevin Appleton, Chief ExecutiveAlan Merrell, Group Finance Director Weber Shandwick Square Mile 020 7067 0700Terry Garrett / Nick Dibden / Lana-Kathryn Pugh This information is provided by RNS The company news service from the London Stock Exchange