Lavendon Group plc (LVD.L) announced its half-year results for the six months ended 30 June 2012. Profit for the period declined to 4.02 million pounds from 5.40 million million pounds in the year ago period. On a per share basis, net income for the period was 2.39 pence, down from 3.28 pence last year.
Profit before tax for the period rose to 4.97 million pounds from 2.10 million pounds last year.
Underlying earnings per share increased to 4.37 pence from 2.81 pence in the year ago period.
The Group's total revenues for the period increased by 8% to 114.5 million pounds from 106.1 million pounds in the prior year period, reflecting an increase in rental revenues of 4% and a 4.2 million pounds increase in the sale of new and ex-rental fleet equipment. Using constant exchange rates with 2011, total revenues increased by 9% and rental revenues increased by 6%.
The company said that its board has declared an interim dividend of 0.75 pence per share, an increase of 10% over the previous year dividend of 0.37 pence per share. This will be paid on 15 October 2012 to shareholders on the register at 14 September 2012.
The company said that trading since the half year has been in line with the Board's expectations and whilst very mindful of the continuing economic uncertainty, the Board believes that the Group remains well positioned to deliver another year of financial progress and substantial shareholder value in the medium term.
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by RTT Staff Writer
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