Record high share price close for Vp

Specialist equipment rental business Vp saw its share price close on a record high after impressive results were announced yesterday.

It’s share price rose over 30.5p to 880.5p, a rise of 3.59%. This was enough to push it to record-breaking levels.

The Harrogate-based business, which has a market capitalisation of £353.5m, saw revenues climb to £249m and pre-tax profits grow to £30.3m last year.

This was enough to get investors scrambling, pushing the share price to its highest levels since Vp began trading on the London Stock Exchange.

The acquisitive nature of Vp is behind some of its success, and post year-end, two acquisitions were completed, that of Jackson Mechanical Services for £3.6m and Zenith Survey Equipment for £3.85m, adding further to its strong UK operations.

It has also been increasing its foothold overseas with the acquisition of Australian and New Zealand businesses.

Vp share price graph courtesy of Google Finance