Lavendon increases its 2016 interim dividend by 18%

DividendMax Ltd.

Lavendon increases its 2016 interim dividend by 18%

First Half Performance

Total revenues up 13% - strong rental revenue growth in UK, Middle East and France

EBITDA growth of 17% largely funding net capex programme of £62m

Group underlying operating profit increased by 10% - strong growth in UK and Middle East

Underlying PBT increased by 10% to £15.9m and underlying EPS increased by 12% to 7.40p

ROCE of 12.2% remains comfortably ahead of WACC at 9.5%

Strong balance sheet with net debt:EBITDA 1.61x - well supported by operational cash flows

Interim dividend up 18% reflecting good performance and Board's confidence in future prospects

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