Robust performance at equipment hire group despite subdued markets

Tool hire specialist, Vp, says it expects to report revenues of £371m and pre-tax profits of £37m – in line with market expectations – in a trading update for the financial year ended 31 March 2025.

The Harrogate-headquartered business says it has achieved a resilient performance, despite challenges in some of its end markets.

Infrastructure continues to be the company’s largest end market. Vp says conditions in Infrastructure have generally been supportive, and the group remains optimistic about future growth opportunities.

The business points to a more mixed picture in its Construction market. It says it continues to enjoy good market activity levels in Specialist Construction particularly in London and the Republic of Ireland, where prospects remain strong.

However, in non-residential Construction Vp warns activity levels remain subdued. Despite actions taken in Brandon Hire Station, improvements to the division’s performance have been slower than anticipated. Vp says it continues to monitor the division‘s performance closely.

Anna Bielby, chief executive, said: “I am pleased to report a strong performance that continues to demonstrate the resilience of our specialist businesses and end markets, reinforced by improvements made to the group’s operating model.

“While we have seen challenges in some of our markets alongside wider geo-political uncertainty, our clear strategy combined with our strong balance sheet and investment commitments by the UK Government, underpins our ability to continue generating long-term sustainable shareholder returns.”