Vp says trading resiliently despite backdrops in housebuilding demand

Wed, 11th Oct 2023 12:15

(Alliance News) - Vp PLC on Wednesday reported weakened demand from UK housebuilding but said it continues to perform well despite the challenges.

Providing a trading update for the six months that ended September 30, its financial first half, the Harrogate, England-based equipment rental company said demand from the housebuilding sector in the UK remained subdued but stable. General construction "remains challenging", it said.

Vp's international businesses are trading well and ahead of a year before, it said, adding that end markets are expected to "positively impact" its current financial year.

Chief Executive Officer Anna Bielby said: "With our strong financial position, we have an excellent track record of successfully navigating volatility in our core markets. We continue to closely monitor the impact of weaker markets in housebuilding and general construction; however, we remain confident that the group will continue to provide shareholders with an attractive level of returns."

Vp shares were 2.0% higher at 499.98 pence each on Wednesday afternoon in London.

By Tom Budszus, Alliance News reporter

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