Berendsen profit rises as margins improve
Aug 23 (Reuters) - Support services company Berendsen Plc reported a 23 percent rise in profit, driven by improved margins and a positive impact of currency conversion.
Pretax profit rose to 46.7 million pounds ($72.73 million)for the six months ended June 30 from 38 million pounds a year earlier.
Revenue at the company, which provides cleaning and other support services to clients including UK's National Health Service, Coca-Cola Europe and the Berlin Fire Brigade, rose 7 percent to 521.5 million pounds.
Revenue from its workwear business - its largest division - rose 7 percent to 152.4 million pounds.
The company said adjusted operating margin increased 80 basis points in the first half to 13.8 percent. Adjusted operating margin in its workwear division increased 160 basis points to 17.7 percent.
Berendsen said it expects the rest of the year to progress in line with its previous expectations.
The London-based company raised its interim dividend to 8.8 pence per share from 8 pence a year earlier.
Berendsen's shares, which have risen about 24 percent since it announced full-year results in March, closed at 870 pence on Thursday on the London Stock Exchange.
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