Vp Share Price (VP.)

Vp’s full year update highlights sector-leading results, once again benefiting from the diversity of its end markets and the quality of its specialist businesses.

With results expected to be broadly in line with expectations, we trim our FY24 PBT forecast by c.5% to £39.0m, a shade below the FY23 outturn (£40.2m). We consider this an impressively resilient performance set against a mixed market backdrop.

Under new leadership, a strategic refresh is underway and management is confident in long term prospects. In our view, the valuation is compelling (FY25E P/E of c7x). We reiterate our Fair Value estimate of 1090p per share.

Link to research report: https://www.equitydevelopment.co.uk/research/resilient-fy24-confident-long-term-outlook

Been a tricky year, but the new management sound impressive and hopefully will confirm a more positive outlook. Meanwhile ridiculously cheap

Could still be interested in a buyout. The fact they could not find one @ over £9 two years ago was a very bad time to look for a sale. The reasons for the motivation to sell are unlikely to have changed. The family ownership does make it unlikely that a hostile bid would succeed at less than 100 % premium. That is where the owners think the value should be. Not unrealistic for a company of this quality with this history

Just watched the presentation. Interesting on the one hand talking about acquisitions on the other hand the whisper is that the major family owners would be interested in a sell out. Could be the HS2 impact being responsible which has down a few stock, even ones that not even impacted by the cancelation. I believe the tight ownership of majority share holders is the reason f0r the historically insane spread on this stock, which makes it quite hard to trade if certain fund managers are having to raise cash they are not going to get a good price here. On the other hand this must be a very tempting price to acquire being such a long way from its high. So I think its well worth getting back in with a 7% yield

Something up?