“Highly” successful year for VP
EQUIPMENT hire specialist VP today said it has seen another “highly” successful year as profits and revenues shot up.
In its final results for the year ended March 31 2014, the Harrogate-based firm reported a “significant” improvement in pre-tax profit by 16% to £20.1m and a rise in revenues of 10% to £183.1m. EBITDA increased to £44.3m, up from £41m in the previous period.
Jeremy Pilkington, chairman of VP, which has six divisions, said: “It has been another highly successful year for the group with significant progress in revenue, profits, earnings per share and dividends.
“Economic indicators in the UK and mainland Europe now appear more positive than for some time and all businesses within the group are identifying significant opportunities for growth and investment.
“We believe that our established financial discipline combined with the active pursuit of growth opportunities will continue to deliver quality returns for shareholders.
“We look forward to the year ahead with confidence.”
The board is recommending a final dividend of 10.4p per share, making a total for the year of 14p per share – an increase of 14%.
