Lutterworth-based Lavendon Group saw its first-half pre-tax profit surge to £8.3 million from £1.1 million and added it sees full-year results ahead of previous market expectations
The company, which rents powered access equipment, said second-half trading had been strong and its recent acquisitions - Rise Hire and Wizard Workspace - were performing well.
There had been high growth in the Middle East, while the German market recovery was continuing.
John Gordon, chairman, said: "We have had an excellent first half. We have continued to implement our strategy which has enabled us to improve performance ahead of our expectations and strengthen our position in all our geographical markets. We will continue to develop our UK group to ensure we maximise the opportunities that the current market presents, while focusing on further enhancing the performance of our German business and keeping apace with the growth in the Middle East.
"We are actively seeking further acquisition opportunities that are cash generative and either complement our existing operations or provide entry into other market sectors.
"Our momentum has continued in the second half. With strong cash generation, improved margins and encouraging market conditions, we are confident that we will deliver a strong financial performance in the full year for our shareholders."
Revenues in the six months to June 30 were £83.3 million, up from £57.1 million last year. UK revenues rose by 27 per cent.
