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Mon June 17 2024

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Vp reports gradual return of demand

4 Aug 11 An upbeat trading report from hire group Vp says that demand is slowly returning, particularly in housebuilding and on the railways.

Vp – called Vibroplant until 2001 -owns a portfolio of equipment rental business, including the Hire Station chain of tool shops, UK Forks, Torrent Trackside and Bukom Oilfield Services.

The company said that the upturn that began at the start of 2011 had continued into spring and summer – “with the business delivering growth and capitalising on organic investment opportunities”.

It added: “The housebuilding and rail sectors continue to enjoy a good level of demand and our oilfield services business has experienced useful year on year growth as demand has slowly recovered from recent lows.  The general construction market is somewhat subdued but stable.  Infrastructure markets remain solid and we anticipate a gradual pickup in AMP5 water sector activity in the second half.

“The promising start to the year and a strong balance sheet, that enables us to pursue opportunities as they arise, gives us confidence that we will deliver further satisfactory results in the current financial year.”

Argos deal

Hire Station has also added Argos to the retailers with whom it has a cross-hire agreement. Argos has added Hire Station kit to its new catalogue and set up to offer tool hire to its customers. Revenue generated is shared between the two companies.

Hire Station already has a similar agreement with Argos sister company Homebase and the Garden Centre Group (formerly Wyevale Garden Centres).

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