Last checked at 4 Oct 2021 07:00
Press Release | 4 October 2021 |
Vp plc
('Vp' or the 'Group')
Trading Update and Notice of Interim Results
Vp plc, the equipment rental specialist, is pleased to provide the following trading update.
The Group is trading well and in line with the Boards' expectations. Group revenues are running at 96% of pre-Covid levels and the business is making excellent progress despite some market sectors not yet being back to historic levels of demand.
UK
In the UK division demand from our core markets of infrastructure, housebuilding and construction has remained supportive. Certain areas of major infrastructure investment such as HS2 have been very busy for the Group, with other key elements, such as the rail sector (CP6) and water (AMP7) expected to accelerate in H2.
General construction has been satisfactory with repair and maintenance work remaining good, but the sector is to a degree impacted by materials and labour resource constraints and the pace of growth will be partially dependent on these issues being resolved. Residential construction remains supportive and we are seeing good demand in this segment.
International
The International division has also experienced a tangible recovery in trading in the new financial year despite the distraction of extended lockdowns in some parts of Australia, New Zealand and Malaysia.
Group
Supported by the Group's strong financial position, our businesses are in excellent shape to capitalise on further opportunities both in the UK and International markets.
Notice of Interim Results
The Group will announce its Interim Results for the six months ended 30 September 2021 on Tuesday, 30 November 2021. There will be a video call for sell-side analysts at 09:30am on the day of results, hosted by Jeremy Pilkington (Chairman), Neil Stothard (Chief Executive) and Allison Bainbridge (Group Finance Director).
Please contact Buchanan at Vp@buchanan.uk.com if you would like to receive the dial in details.
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For further information:
Vp plc | Tel: +44 (0) 1423 533 400 |
Jeremy Pilkington, Chairman | www.vpplc.com |
Neil Stothard, Chief Executive | |
Allison Bainbridge, Group Finance Director |
Media enquiries: | |
Buchanan | |
Henry Harrison‐Topham / Jamie Hooper / George Beale | Tel: +44 (0) 20 7466 5000 |
Vp@buchanan.uk.com | www.buchanan.uk.com |
Notes to Editors
Vp plc is a specialist rental business providing products and services to a diverse range of markets including infrastructure, construction, housebuilding and energy markets, both in the UK and overseas.
The Group comprises a UK and an International division:
UK |
Groundforce |
A market leading rental and design provider of excavation support systems and specialist products to the water, civil engineering and construction industries with operations in the UK, the Republic of Ireland and mainland Europe.
|
Brandon Hire Station |
The leading provider of tools and specialist rental products to industry, construction and home owners across the UK.
|
ESS |
The leading specialist provider of safety, survey, communications and test & measurement equipment rental in the UK.
|
MEP Hire |
The UK's largest provider of mechanical and electrical press fittings and low level access platforms to the construction, fit out, mechanical and electrical markets.
|
Torrent Trackside |
Specialist suppliers of rail infrastructure portable plant and related trackside services to Network Rail, London Underground and their appointed track renewal, maintenance and project contractors.
|
TPA |
One of Europe's largest suppliers of temporary access solutions. Operating from bases in the UK and Germany, TPA provides portable roadways and temporary access solutions to customers in the transmission, construction, rail and outdoor events markets.
|
UK Forks |
One of the UK's leading specialist hirers of telescopic handlers and tracked access platforms. The products and services are utilised by its customers to improve safety and productivity on construction and housebuilding sites across the UK. |
International |
Airpac Bukom Oilfield Services |
An international business supporting a wide range of oil and gas markets, servicing well test, pipeline testing, rig maintenance and LNG markets worldwide.
|
TR Group |
Australasia's leading technical equipment rental group providing test and measurement, communications, calibration and audio visual solutions in Australia, New Zealand and South East Asia. |
Further information is available at www.vpplc.com/investors