When we tipped Lavendon (LVD) at the start of the year, our positive stance was based on the expectation of recovery in its UK business. So it was gratifying to see that recovery starting to come through in the recent full-year results.
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Lavendon, which is the market leader in the rental of powered aerial work platforms in western Europe and the Gulf, flagged up a firmer trend in UK rental revenues and a pick up in rental rates. The company said that its end markets were beginning to show signs of a cyclical upswing. And that’s backed up by recent UK construction PMI data that shows optimism about future prospects is at its highest for over seven years.
