Trading Update & Notice of Interim Results

Vp PLC

11 October 2023

 

11 October 2023

Vp plc

('Vp' or the 'Group')

Trading Update & Notice of Interim Results

Vp plc, the equipment rental specialist, today provides a trading update for the six months ended 30 September 2023 ('H1 2024' or 'the period').

The Group as a whole continued to trade resiliently in the period against a backdrop of challenging macro-economic conditions impacting certain end markets.

UK

Within the Group's UK businesses, infrastructure, including water, transmission and rail, continues to perform well, with longer-term regulatory programmes proving supportive. Housebuilding demand remains subdued but stable. General construction remains challenging.

International

The Group's overseas businesses continue to trade well at levels ahead of H1 2023 and the Board expects end markets to positively impact the current financial year.

Commenting on current trading, Anna Bielby, Chief Executive of Vp, said "We have delivered a solid performance in the period and are confident that we will continue to achieve our objective of driving demand for our products and services. 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."

Notice of Interim Results

The Group will announce its Interim Results for the six months ended 30 September 2023 on Tuesday, 28 November 2023.  There will be an 'in person' meeting for sell-side analysts at 9.30am on the day of results, hosted by Jeremy Pilkington (Chairman) and Anna Bielby (Chief Executive).  Please contact Buchanan at [e-mail] if you would like to attend the meeting.

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For further information:

Vp plc	Tel: [phone]
Jeremy Pilkington, Chairman	www.vpplc.com
Anna Bielby, Chief Executive

Media enquiries:
Buchanan
Henry Harrison‐Topham / Jamie Hooper / George Beale	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 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. The products and services are utilised by its customers to improve safety and productivity on construction and housebuilding sites across the UK.

International

Airpac Rentals

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

 

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