The group, which operates in the UK, Ireland and throughout continental Europe, said the key growth areas it has identified are workwear, mats, washroom and cleanroom across all regions and, in the UK, the hotel and linen businesses. To this end, it will adopt a new business line structure, with executive board members taking responsibility for core business lines rather than geographical divisions.
“As well as capturing improved organic growth, there is scope for continued growth through bolt-on acquisitions and to play an active role in the consolidation of the industry,” the statement added.
In its latest strategy review, the board said it could grow revenue at 1-2% above GDP over the medium term by focusing on its core, higher margin and growth businesses and by improving sales processes.
Revenue in the three months from 30 June to 30 September 2010 rose by 1% on the same period last year. Pretax profit in the three months to 30 September “increased modestly” over the same period last year, with a slightly higher operating margin than reported in the first half.
