Last checked at 19 Aug 2008 07:00
| Press Release | 19 August 2008 |
Vp plc
('Vp' or 'the Group')
Interim Management Statement
Vp plc, the equipment rental specialist, today advises that it has continued to make good progress since the Preliminary Results announcement in June 2008. Although the business environment has undoubtedly become more challenging, we have continued to benefit from the diversity of markets we serve. The oil and gas, transmission, outdoor events and utilities markets in particular continue to perform well and whilst housebuilding and the rail sector have been weaker, general construction demand has remained stable driven by ongoing public sector and regulated industry investment.
In July we announced the acquisition of assets from Rand Group together with a three year sole supply agreement. The integration of this business is proceeding well.
Overall the business has made a good start to the new financial year. Whilst we remain alert to changes in individual markets, we believe that our diversity across specialist markets is a key strength of the Group. We remain confident of delivering further progress in the current financial year.
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For further information please contact:
| Vp plc | |
| Jeremy Pilkington, Chairman | Tel: +44 (0) 1423 533 400 |
| jeremypilkington@vpplc.com | |
| Neil Stothard, Group Managing Director | Tel: +44 (0) 1423 533 445 |
| neil.stothard@vpplc.com | www.vpplc.com |
| Mike Holt, Group Finance Director | Tel: +44 (0) 1423 533 445 |
| mike.holt@vpplc.com | www.vpplc.com |
Media enquiries:
| Abchurch Communications | |
| Ariane Comstive/George Parker | Tel: +44 (0) 207 398 7719 |
| george.parker@abchurch-group.com | www.abchurch-group.com |
Notes to editors:
About Vp
The main activity of the Group is equipment rental and associated services principally conducted within the UK. Vp plc listed on the London Stock Exchange in 1973.
The Group is focused on six businesses:
Hire Station
Tools and specialist products for industry, construction and home owners.
TPA
Portable roadway systems, bridging, fencing and barriers primarily to the UK market, but also in the Republic of Ireland and mainland Europe.
Torrent Trackside
Infrastructure equipment and services for the railway renewals and maintenance industry.
Groundforce
Excavation support systems and specialist products for the water, civil engineering and construction industries.
UK Forks
Rough terrain material handling equipment for industry, residential and general construction.
Airpac Bukom Oilfield Services
Equipment and service providers to the international oil and gas exploration and development markets.