Revenues nearly at pre-pandemic levels for listed equipment rental firm
Equipment rental specialist, Vp plc, says it is trading well with its revenues running at 96% of pre-Covid levels.
It notes its business is making “excellent” progress despite some market sectors not yet being back to historic levels of demand.
In the UK division demand from the company’s core markets of infrastructure, housebuilding and construction has remained supportive.
Certain areas of major infrastructure investment such as HS2 have been very busy for the Group, with other key elements, such as the rail sector (CP6) and water (AMP7) expected to accelerate in H2.
General construction has been “satisfactory” with repair and maintenance work remaining good, but the sector is being impacted by materials and labour resource constraints and the pace of growth will be partially dependent on these issues being resolved.
Residential construction remains supportive and VP says it is seeing good demand in this segment.
The business explains its International division has also experienced a tangible recovery in trading in the new financial year despite the distraction of extended lockdowns in some parts of Australia, New Zealand and Malaysia.
The Group will announce its Interim Results for the six months ended 30 September 2021 on Tuesday 30 November 2021.