Vp makes positive start to trading year

EQUIPMENT hire group Vp has expressed optimism about the year ahead despite the sluggish state of the UK economy.

Speaking at the company’s annual general meeting yesterday, chairman Jeremy Pilkington said: “I am pleased to reiterate that the generally upbeat finish to the previous financial year continued into the new financial year with the business delivering growth and capitalising on organic investment opportunities. 

“The promising start to the year and a strong balance sheet that enables us to pursue opportunities as they arise, give us confidence that we will deliver further satisfactory results in the current financial year.”

In its last full year Vp made pre-tax profits of £13.8m, down from £16m in 2010 although revenues had grown by 5%.

Harrogate-based Vp has six business divisions serving sectors including the oil and gas industry, construction and railway maintenance.