Revenue, profit, the customer base, and the average customer spend at Nationwide Access all increased in the past six months according to the interim results recently announced (4 September] by Nationwide's parent company, Lavendon Group Plc.

The company, Britain's largest powered access rental business, saw its income increase during the six month period by 15 percent to £28.6 million, while the active customer base expanded by ten percent to just short of the 10,000 mark, and the average customer spend rose by seven percent. All of which resulted in a six percent increase in operating profit to £5.4 million.

According to David Price, Lavendon's Executive Chairman, the figures clearly demonstrate that Nationwide is further increasing its share of the growing UK powered access market. Currently the company has a rental fleet of over 6,000 units - more than twice as many as its nearest competitor, and operates out of 50 depots spread throughout the country. He is encouraged by the performance of the powered access market generally in the UK, despite the current weakness in the manufacturing sector and the slowdown in telecommunications activity.

The interim results come hard on the heels of the announcement that Nationwide has added a further 158 Upright machines to its fleet. This is in addition to the company's share of an accelerated two-year investment programme that saw Lavendon pump £168 million into its European operations, which helped to establish the business as the clear European market leader for powered access rental.

Nationwide has its headquarters in Lutterworth, Leicestershire, and all of its depots comply with the company's ISO 9002 accreditation. Details on Nationwide and its current fleet of powered access units can be found at www.nationwideaccess.com

END

September 2002 Nat2.060