Bibby Finance Bibby Finance
Follow us on Twitter Follow us on LinkedIn Follow us on Instagram
Daily construction news
Weekly plant news

Construction News

Wed April 25 2018

Related Information
Related Information
Related Information
Related Information

News » Plant » Chairman says Vp is surpassing expectations » published 29 Nov 2016

Chairman says Vp is surpassing expectations

Equipment rental group Vp is flying high and set to deliver annual financial results ahead of market expectations.

Jeremy Pilkington has been chairman of Vp since 1981 Above: Jeremy Pilkington has been chairman of Vp since 1981

Vp’s interim results for the six months ended 30th September 2016 show 9% growth in profit before amortisation and tax to £18.7m (2015/16 H1: £17.2m) on revenues 16% higher at £121.7m (2015/16 H1: £105.1m). 

“This performance reflects strong underlying organic growth in most of our businesses, plus contributions from the acquisitions of Higher Access and TR Group in March and April 2016 respectively”, said chairman Jeremy Pilkington, who has now headed the company for 35 years.

Vp is the parent company of Groundforce, Hire Station, UK Forks, Torrent Trackside and other specialist construction equipment operations.

Capital investment in new equipment for hire during the six months rose to £29.9m (2015/16 H1: £23.4m).  Borrowings at the period end stood at £107.5m, up from £86.1m in March after funding investment and acquisitions totalling £42.5m. 

Chairman Jeremy Pilkington said: "Strong organic growth plus the successful integration of two acquisitions has delivered this excellent set of results.  Increased capital investment into market opportunities gives us confidence that we will be able to deliver results ahead of market expectations for the year as a whole."


Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News & Contract News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.

This article was published on 29 Nov 2016 (last updated on 29 Nov 2016).

More News Channels