January 30, 2018 / 6:54 AM / 6 months ago

France's Elis doubles targeted cost synergies from Berendsen acquisition

Jan 30 (Reuters) - French laundry and services group Elis said on Tuesday it now expects cost synergies of at least 80 million euros ($98.83 million) by 2020 from its acquisition of British peer Berendsen, double the amount previously announced.

The company said it expects 2018 revenue of over 3.2 billion euros, with EBITDA margin improving by around 150 basis points and EBIT margin up around 100 basis points compared to 2017.

The company reported on Tuesday revenue of 2.21 billion euros, up 46 percent on the previous year. ($1 = 0.8095 euros) (Reporting by Alan Charlish; Editing by Gopakumar Warrier)

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