Trading Update and Notice of Final Results

RNS Number : 3604V

Vp PLC

08 April 2019

 

Press Release

8 April 2019

Vp plc

('Vp' or the 'Group')

Trading Update and Notice of Final Results

Vp plc, the equipment rental specialist, is pleased to provide the following update on recent trading.

Since the interim results announcement on 27 November 2018, the Group has made further progress both within the UK and the International divisions.

The UK division has experienced stable demand from its core market sectors; infrastructure, construction and housebuilding. 

The integration of Brandon Hire, which was acquired in November 2017, is progressing well.  The combined specialist tool hire business has now been re-branded as Brandon Hire Station.  The integration should be fully completed by the end of the first half of the new financial year.

In the International division, the Group has experienced on-going challenging trading conditions in the offshore oil and gas sector, whilst our test and measurement business in the Asia Pacific region has traded well.

The Board anticipates that final results for the year ended 31 March 2019 will be well ahead of the prior year and in line with current market expectations.  Exceptional costs in the second half of the year are expected to be circa £4 million, resulting from acquisition integration costs and business restructuring.

Notice of Final Results

The Group will be announcing its Final Results for the year ended 31 March 2019 on Tuesday, 4 June 2019.  An analyst briefing given by Jeremy Pilkington (Chairman), Neil Stothard (Chief Executive) and Allison Bainbridge (Group Finance Director), will be held at 0930hrs on Tuesday, 4 June 2019 at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.

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For further information:

Vp plc
Jeremy Pilkington, Chairman		Tel: [phone]
Neil Stothard, Chief Executive		www.vpplc.com
Allison Bainbridge, Group Finance Director
Media enquiries:
Buchanan
Henry Harrison-Topham / Jamie Hooper / Madeleine Seacombe		Tel: [phone]
[e-mail]	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 oil and gas, both in the UK and overseas.

The Group comprises a UK and an International division:

UK

UK Forks

Rough terrain material handling equipment for the housebuilding, general construction and industrial markets.

Groundforce

Excavation support systems and specialist products for the water, civil engineering and construction industries primarily in the UK, but also in the Republic of Ireland and mainland Europe.

TPA

Portable roadway access solutions to the transmission, outdoor events, construction and utility sectors in the UK, the Republic of Ireland and mainland Europe.

Brandon Hire Station

Tools and specialist products for industry, construction and home owners.

ESS Safeforce

Specialist safety, survey, communications and test & measurement.

MEP Hire

Mechanical, electrical and low-level access.

Torrent Trackside

Infrastructure equipment and services for the railway renewals and maintenance industry.

International

Airpac Bukom Oilfield Services

Equipment and service providers to the international oil and gas exploration and development markets.

TR Group

Specialist rental of test & measurement, communications and audio visual equipment in Australia, New Zealand and Malaysia.

Further information is available at www.vpplc.com/investors

 

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