VP confident it can capitalise on opportunities

EQUIPMENT hire specialist VP is confident it can capitalise on the opportunities improved markets will bring to its business.

The Harrogate-based firm, which has six operations, reported strong results yesterday, with an increase in both profits and revenue.

The business said it is now looking to grow all its divisions in the UK market, as well as expand areas of its business into Europe.

Neil Stothard, group managing director, said: “The encouraging thing for us in the UK is that there seems to be markets that are recovering faster than others and general improvements going on. We should be able to capitalise on that. We will be looking to further invest in the UK and grow all our divisions in the UK market.”

VP, which is celebrating its 60th anniversary next year, said it will be looking to grow its oil and gas arm – Airpac Bukom Oilfield Services, which provides equipment to the international oil and gas exploration and development markets – internationally.

It also plans to grow its  portable roadway systems supplier TPA internationally as well as Groundforce – which provides excavation support systems, specialist piling and trenchless technology for the water, gas, civil engineering and construction industries.

The group said organic opportunities are a more likely way forward currently but added: “Acquisitions have always formed part of our growth plans. We have got the capacity to afford the acquisitions and invest organically and we will be happy to do acquisitions providing the opportunity is good for us going forward.”