Opportunities for growth at Vp

EQUIPMENT rental specialist Vp is confident it has opportunities for growth as it announces strong results.

The Harrogate-based group has today announced its results for the six months to September 30. It said profit before tax and amortisation increased by 17% to £12.8m on revenues ahead by 9% at £91.3m.

Jeremy Pilkington, chairman of Vp, said: “The group has produced another excellent set of results with profits, margins, return on capital and earnings per share all strongly ahead. 

“Substantial capital investment in the rental fleet and the acquisition of Mr Cropper in September demonstrates our confidence in the opportunities for growth. 

“The board believes the group is very well placed to continue to deliver further progress for the year as a whole and beyond.

“These are an excellent set of results which reflect the ability of an outstanding team to cope equally well with challenges and opportunities. Everyone in the group should be justifiably proud of their achievement.”

Pilkington said that although uncertainties and challenges remain, the group has seen a “notable” improvement in sentiment in certain key market sectors in the UK, particularly within residential and infrastructure investment.

He said this has contributed to the “significantly” improved performances at Groundforce, UK Forks and Hire Station.