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Lavendon profits treble

Platform hirer Lavendon has almost trebled profits on the back of an acquisition programme that has seen it push into Belgium as market leader.

The group announced a pre-tax profit of £21.4 million, up from £7.7 million in 2006, on revenues of £186 million, up 49 per cent.

The Leicester-based group today also revealed plans to acquire Berkshire business The Platform Company in a £46.1 million cash and shares deal, following four acquisitions last year which cost it £77.2 million.

Lavendon chairman John Gordon said the group would now focus on integrating its new businesses.

The firm’s takeover of the DK Rental group of companies last December for £64.3 million – its largest acquisition yet – meant it entered Belgium as a market leader and had bolstered its position in Spain and France.

The company more than doubled revenues in Germany to £48.5 million, after buying the Gardemann group late in 2006.

Mr Gordon said the firm was mindful of current market conditions but added: “We have experienced no noticeable impact on our end user markets and are confident of reporting further progress in the year ahead.”