The equipment rental specialist
Vp plc is a specialist rental business providing products and services to a diverse range of markets including civil engineering, rail, oil and gas exploration, construction, outdoor events and industry, primarily within the UK, but also overseas
Vp is a well established group which has evolved over nearly 60 years of trading from a broadly based plant hire company to a service based group providing equipment rental and associated services to a range of market sectors. Floated on the London Stock Exchange in 1973, Vp now comprises 6 business divisions:- Groundforce, UK Forks, Airpac Bukom Oilfield Services, Hire Station, Torrent Trackside and TPA.

MIDAS SHARE TIPS: Specialist kit helps hire firm Vp recover from fall in profitsBy Joanne Hart
PUBLISHED: 22:34, 8 September 2012 | UPDATED: 22:34, 8 September 2012
Comments (0) Share

..Equipment rental specialist Vp is forging ahead despite unsettled economic conditions. The company’s record is impressive, the management team is ambitious and the shares should rise.

The firm is also taking City analysts to see some of its operations this Wednesday and a series of meetings with brokers has been arranged over the next few weeks, which should give the stock a further boost.

Vp, originally known as Vibroplant, used to be a standard plant hire business renting out diggers, dumpers, rollers and similar equipment to the construction sector. Plant hire is a sizeable industry in Britain but competition is fierce and profit margins are low.


Diversity: Vp, headed by Jeremy Pilkington, still runs a tool hire arm
Founded in 1954 by Fred Pilkington, the company is still chaired by his grandson, Jeremy and the family retains a 51 per cent stake, so they are deeply committed to its success. In 1997, Neil Stothard was brought in as finance director and he became managing director seven years later.

During that time, he and Pilkington junior reshaped the business entirely, changing the name and moving the company out of standard rental and into six specialist areas: oilfield services, rail plant, temporary roads, rough terrain fork-lifts, tool hire, including specialised safety equipment, and shoring solutions – supplying tools and materials to contractors when they are digging trenches and making large excavations

These business divisions were not entirely new, but they have moved centre-stage over the past decade. The company has invested heavily in their development and aims to build long-term relationships with customers, offering advice and guidance, rather than simply renting out equipment in bulk.
In every case, however, the group offers top quality products, buying the best machines it can and selling them once they are past their best.

Last year alone, Stothard spent £32million on a new fleet but also made £7million by selling off older equipment. The most profitable division within the group is the shoring business, Groundforce. This is a market leader in Britain and is starting to expand on the Continent.
Clearly, economic conditions are tough, particularly in southern Europe. Elsewhere, however, construction activity continues and Vp’s equipment is safer and more technically advanced than most alternative products.

Jeremy Pilkington founded Vp in 1954
The roads division, TPA, is another British market leader that is moving across the Channel. This business rents out temporary roadways and walkways for events such as Wimbledon, the golf Open Championship and summer festivals. These modular surfaces are also used in the construction industry, providing access to sites while building work takes place.

Stone or timber roads are usually made when temporary access is needed on the Continent and Vp’s offer is cheaper, more flexible and more environmentally friendly as it can be easily removed when no longer needed.

The oil services subsidiary is performing well, too. One of the oldest businesses in Vp’s portfolio, it began helping oil explorers in the North Sea but now operates worldwide, renting equipment to the oil, gas and liquefied natural gas sectors.

The group also offers consultancy, providing engineers on site to advise on the best equipment to use and how to use it. Vp has not been immune to the recession.

Profits fell from £20.1million in 2009 to £12.2million in 2011. However, the group’s broad spread of businesses has made it more resilient than many other plant hire firms and in the year to March 31, 2012, profits rose to £15.3million. Analysts expect £17.1million in profits for the current year, rising to nearly £18million next year.

The company pays a reasonable dividend too, maintaining payments at 10.8p from 2009 to 2011 and increasing the payout to 11.35p for the most recent financial year. Dividends are expected to continue rising over the next couple of years.

Midas verdict: Vp shares are 304p and most brokers believe they are worth considerably more. The group is conservatively run and well funded, and the large family shareholding provides reassurance that investors will be well looked after whenever possible. Buy.

Good 6% rise perhaps re post 2.

Vp PLC : Analyst site visit to UK Forks, Ground...
HUG
Press Release 12 September 2012

Vp plc
("Vp" or "the Group")

Analyst site visit to UK Forks, Groundforce and Hire Station

Vp plc, the equipment rental specialist, announces that the Group will today be hosting an analyst site visit to three of its six divisions, UK Forks and Groundforce in Morley followed by Hire Station in Castleford.

During this visit, no new material information will be made available, other than that which was provided at the Group's Interim Management Statement and AGM statement on 20 August 2012 and 18 July 2012 respectively.

Neil Stothard, Managing Director of Vp plc, commented:
"This site visit is an excellent opportunity for the Group to present a representative selection of Vp divisional activities to a City audience."

Copies of the presentations being given will be made available from 3.00 pm on the Company's investor relations website www.vpplc.com

Analyst Presentation
Sept 12th

http://www.vpplc.com/media/81852/site_visit_-_12_september_2012_-_hire_station.pdf

House broker Brewin believes there is a chance the Harrogate firm will beat March 2013 earnings forecasts. We will get a better idea when half-year results are published in November.

Vp plc, the equipment rental specialist, will be announcing its Interim Results
for the six months ended 30 September 2012 on Wednesday, 28 November 2012.

Interim results Wednesday, making steady progress.

Vp PLC: Interim Results
HUG
Press Release
28 November 2012

Vp plc

("Vp" or the "Group")

Interim Results

Vp plc, the equipment rental specialist, today announces its Interim Results for the six months ended 30 September 2012.

Highlights


Profit before tax and amortisation increased 6% to £11.0 million (H1 2012: £10.4 million)

Revenues of £84.0 million, 2% ahead of equivalent prior year period (H1 2012: £82.7 million)

Return on capital employed 13.2% (H1 2012: 13.1%)

Capital investment in the fleet of £12.6 million

Acquisitions of £4.1 million

Tender offer for shares completed at £7.8 million

Net debt increased to £50.1 million (FY 2012: £40.4 million)

Interim dividend increased to 3.25 pence per share

Solid balance sheet with strong operational cash flow of £18.6 million

Strong individual divisional performances

Jeremy Pilkington, Chairman of Vp plc, commented:

"The Group has delivered another extremely positive set of results despite continued unsettled market conditions. The strength of these figures highlight the benefit of Vp's well established strategy of focusing on specialist sectors where the Group enjoys strong market positions. We have continued to invest in our people, systems and fleet to ensure sustainable performance over the medium and long term."

- Ends -

A buy in this weeks IC. Only rated on 11 times forecast earnings , a discount to the rental sector, and offer a decent dividend well covered by earnings .

:-))

Vp expects to meet full year forecasts
Thu 14 Feb 2013

VP. - VP

Latest Prices
Name Price %
VP 338.00p 0.00%

FTSE All-Share 3,344 -0.03%
FTSE Small Cap 3,707 -0.05%
Support Services 5,564 +0.04%

LONDON (SHARECAST) - Rental equipment specialist Vp said trading through the winter period has been satisfactory and expects to report full year profits in line with market expectations.

The group, which provides products and services to oil and gas exploration markets, civil engineering, rail and construction, added that while there has not been a tangible improvement in overall market conditions, most sectors have remained stable.

Vp which operates six divisions: Groundforce, UK Forks, Airpac Bukom, Torrent Trackside, TPA and Hire Station, said sustained demand from regulated infrastructure markets has continued to provide a solid base for the group, in what has otherwise been soft general construction demand.

Otherwise in oil and gas, the lower levels of liquefied natural gas activity have continued into the second half as expected.

"However the board is pleased to report that we have secured a number of LNG contracts in the Asia Pacific region which will contribute in the new financial year," it said in a statement.

"Optimisation of the performance of Vp's existing specialist activities remains the board's priority and the group continues to invest in support of secured opportunities as they arise."

Final results - Tuesday 4 June

Vp PLC : Final Results

Press Release 4 June 2013


Vp plc, the equipment rental specialist, today announces its Final Results for the year ended 31 March 2013.

Highlights
•
Profit before tax and amortisation increased 9% to £17.4 million (2012: £16.0 million)

•
Basic earnings per share pre-amortisation improved 15.3% to 35.47 pence

•
Revenues of £167.0 million, 3% ahead of prior year (2012: £161.5 million)

•
Operating margins increased to 11.9% (2012: 11.5%)

•
Return on average capital employed improved to 13.3% (2012: 13.0%)

•
Modest increase in net debt to £45.3 million (2012: £40.4 million) after funding:-
◦
Capital investment in the fleet of £22.5 million

◦
Acquisitions of £4.1 million

◦
Tender offer for shares completed at £7.8 million


•
Final dividend proposed of 9.0 pence per share, making a total of 12.25 pence for the full year (2012: 11.35 pence), an increase of 8%

•
Solid balance sheet with strong operational cash flow of £39.8 million


Jeremy Pilkington, Chairman of Vp plc, commented:
"The Group has delivered another strong performance with increased profits, margins and return on capital employed. Whilst the economic background still contains significant uncertainties and challenges, this set of results again demonstrates the Group's ability to continue to deliver value for shareholders even within a relatively unsupportive trading environment.

"Each of our businesses continues to work hard to uncover opportunities for investment and growth and we believe that the Group has positive momentum moving into the new financial year. We look forward to another year of progression as we maintain our focus on delivering consistent, quality and sustainable returns over the long term."

- Ends -

VP rallies as full year earnings shine
Tue 04 Jun 2013


VP rallies as full year earnings shine LONDON (SHARECAST) - Rental equipment specialist Vp delivered a strong full year performance with improved profit, margins and dividend and said positive momentum continued into the new financial year.

The group, which provides products and services to oil and gas exploration markets, civil engineering, rail and construction, said profit before tax and amortisation increased 9% to £17.4m for the year ended March 31st 2013 compared to £16.0m in 2012. Basic earnings per share pre-amortisation improved 15.3% to 35.47p.

Revenues increased 3% to £167.0m while operating margins increased to 11.9% from 11.5% previously. Net debt increased to £45.3m from £40.4m after it invested in its fleet and made acquisitions of £4.1m.

Chairman Jeremy Pilkington said: "Whilst the economic background still contains significant uncertainties and challenges, this set of results again demonstrates the group's ability to continue to deliver value for shareholders even within a relatively unsupportive trading environment."

"Each of our businesses continues to work hard to uncover opportunities for investment and growth and we believe that the group has positive momentum moving into the new financial year. We look forward to another year of progression."

A final dividend of 9.0p per share has been proposed, giving a total of 12.25p for the full year, an increase of 8%.

Shares in the group jumped 5.99% to 358.25p at 11:30 in London

VP PLC (VP.:LSE) set a new 52-week high during today's trading session when it reached 358.25. Over this period, the share price is up 43.38%.

Shares today -

VP’s opportunity to play catch-up


Better-than-expected full-year results from construction equipment rental group VP (VP.) have boosted stock by 6% to 358.25p, yet the small cap could rise further still before it catches up with its rivals.

Companies that hire equipment to construction and infrastructure providers have all enjoyed strong share price appreciation over the past few years, thanks to a mixture of self-help measures and better demand. Both these factors have contributed to improved earnings and regular upgrades from analysts as they forecast higher and higher profits.

VP, alas, has been left in the shadows compared to its larger peers Speedy Hire (SDY) and Ashtead (AHT). The main reasons are that Speedy is adding greater service capabilities, so it is winning large contracts; and Ashtead is benefiting from a large presence in the US where there is structural shift from owning to renting equipment among construction companies.

VP - Comparison Line Chart (Rebased to first)

The charts (above and below) illustrate how VP has lagged its peers. Broker N+1 Singer says this outcome is undeserved and reckons the company’s intrinsic value is more than 400p.

ahtVP - Comparison Line Chart (Rebased to first)

VP has today reported a 9% increase in pre-tax profit to £17.4 million, slightly ahead of £17.1 million analyst expectations. Of particular note is the improvement in operating margins from 11.5% to 11.9% and return on capital employed moving to 13.3% from 13%.

The company says margins are getting better due to better cost control and ‘ensuring that the revenue we are generating is of the best quality.’ It has chosen to withdrawn from certain contracts after declaring them to have sub-optimal margins. This explains a small reduction in revenue at TPA as it decided various outdoor events work wasn’t worth doing.

Aside from TPA, the five other business divisions all recorded revenue gains. In fact, TPA did grow profits despite lower revenue. Yet the only disappointment on the profit side was Airpac Bukom, the oil and gas division. This was a result of tough comparative figures from the previous year where VP had large contract which ran its course.

The company says oil and gas work is now picking up, particularly Airpac Bukom’s core skill of providing support to well testing. It flags particular success in the Middle East including Kurdistan where a number of high value rentals were obtained for well test projects.

Shares last year described VP as ‘an ideal stock to buy and tuck away for long-term capital appreciation and income’. While it may lack the obvious catalysts driving Speedy Hire and Ashtead, there is reason to stay positive as VP continues to broaden its earnings streams. Non-hire work is gathering pace including training as part of Hire Station, its tools business. And the Groundforce arm has a team of engineers in Leeds who provide drawings and designs for large excavation projects. VP sees this ‘highly-valued’ skill as important for a push into mainland Europe.

A buy in this weeks IC - VP shares still looking cheap.

VP shares trade on 10.5 times forecast earnings, compared with 15 times for the wider rental sector. True, the company doesn't have the same stellar growth rates as peers, but that discount is still too wide.

Down 10% today

Ex-Dividend
10 Jul 13 VP PLC [VP.] (9 p)

Vp PLC : AGM Statement

HUG






Press Release 23 July 2013

Vp plc
("Vp" or the "Group")

AGM Statement

Vp plc, the equipment rental specialist, announces that at the Group's Annual General Meeting held earlier today, all resolutions put to Shareholders by the Board were duly passed.

Speaking at the Annual General Meeting, Jeremy Pilkington, Chairman, commented:

"The Group has started the new financial year well and in line with our expectations. The first quarter's trading has been positive, and with solid revenue growth compared with the prior year, the business is well positioned to deliver another good performance this financial year."

- Ends -

How odd ?
Not the same as ADV


Me pregunto ¿por qué?

Yes agree djalan. +3.08% yesterday close. Odd?


(VP.) Vp PLC
404.00 +12.00 (3.08%

Thanks skinny.

only -1p (0.25%) Graph wrong again not -9%





Director Deals - VP PLC (VP.)

BFN

Neil Stothard, Managing Director, bought 8,500 shares in the company on the 24th July 2013 at a price of 407.00p. The Director now holds 681,576 shares.

Story provided by StockMarketWire.com
Director deals data provided by www.directorsholdings.com

Showing a 10% fall, money am again. Not down 1%.

Investment summary: Good start to FY14

http://www.edisoninvestmentresearch.com/researchreports/VPQV020813.pdf

Vp PLC : Acquisition

HUG






Press Release 4 September 2013

Vp plc
("Vp" or "the Group")

Acquisition

Vp plc, the equipment rental specialist, today announces the acquisition of the entire issued share capital of Mr Cropper Limited ("Mr Cropper") for a consideration of £4.6 million.

Mr Cropper is the market leader in the rental of pile cropping machines to the UK groundworks and construction sectors. Operating across the whole of the UK with two locations in the South East and Midlands, Mr Cropper has been established for 13 years.

Mr Cropper will be integrated within Vp's Groundforce division, complementing the Group's existing piling equipment activities.

Jeremy Pilkington, Chairman of Vp plc, commented:

"We are very pleased to welcome a market leading business of Mr Cropper's quality to the Vp group. The specialist nature of the business is an excellent fit for Vp and Mr Cropper will provide complementary activities in support of our other businesses operating in the groundworking and construction sectors."

- Ends -

Vp PLC : Half-yearly report

HUG







Press Release 26 November 2013

Vp plc

("Vp" or the "Group" or the "Company")

Interim Results

Vp plc, the equipment rental specialist, today announces its Interim Results for the six months ended 30 September 2013.

Highlights





•
Profit before tax and amortisation increased 17% to £12.8 million (2012: £11.0 million)
•
Revenues of £91.3 million, 9% ahead (2012: £84.0 million)
•
Return on capital employed 13.9% (2012: 13.2%)
•
Profit margins improved once again to 14.0% (2012: 13.0%)
•
Capital investment in rental fleet 46% higher than the prior year at £18.3 million
•
Acquisitions of £4.6 million
•
Interim dividend increased to 3.6 pence per share
•
Solid balance sheet with strong operational cash flow

Jeremy Pilkington, Chairman of Vp plc, commented:
"The Group has produced another excellent set of results with profits, margins, return on capital and earnings per share all strongly ahead. Substantial capital investment in the rental fleet and the acquisition of Mr Cropper in September demonstrates our confidence in the opportunities for growth. The Board believes the Group is very well placed to continue to deliver further progress for the year as a whole and beyond."

- Ends -

27 Nov Cantor... 570.00 Buy

A buy in this weeks IC - VP thrashes forecasts.

Better than expected first half numbers from VP offered proof that the UK economy is in recovery mode. Earnings should grow nicely as the economy recovers and they still trade on less than 15 times forecast earnings, a discount to peers.

MIDAS UPDATE: That’s a pick-up! Our tip, equipment rental firm Vp, leaps 77 per cent

By Joanne Hart, Financial Mail On Sunday

PUBLISHED: 22:04, 7 December 2013 | UPDATED: 22:04, 7 December 2013

Equipment rental firm Vp has had a stellar year. With products ranging from temporary roads to forklift trucks to hand-held drills, Vp is reaping the benefits of economic recovery.


Recommended by Midas in September 2012 at 304p, we took a fresh look at the stock last February, by which point they had risen just 8.5 per cent to 3293⁄4p. Since then, they have surged by 69 per cent to 558p as results have beaten expectations and chairman Jeremy Pilkington has expressed confidence about the future.



Boom: Vp is benefiting from the economic recovery

On November 26, half-year results for the six months to September 30 showed profits up 17 per cent to £12.8 million, sales up 9 per cent to £91  million and an 11 per cent increase in the dividend to 3.6p.

Pilkington expects further good progress this year and beyond, so brokers now anticipate profits up 8 per cent to £18.9 million for the year to March, with a 10 per cent rise in the dividend to 13.5p.


The company has been investing heavily in its rental fleet, so products are in top condition and customers are satisfied. Pilkington’s grandfather founded the firm and his family owns more than 50 per cent, so he is highly motivated to make the right decisions and pay decent dividends.


Midas verdict: As the housing market has roared back to life and construction has picked up, Vp has seen a healthy rise in sales and profits.


Government promises about infrastructure investment should fuel future growth. Investors who have seen returns of 77 per cent might wish to sell half their stock, but they should keep the rest of their shares.

Vp plc, the equipment rental specialist, will be announcing its Final Results for the year ended 31 March 2014 on Thursday, 5 June 2014.

Vp PLC : Final Results

HUG


Press Release 5 June 2014



Vp plc

("Vp" or the "Group" or the "Company")

Final Results



Vp plc, the equipment rental specialist, today announces its Final Results for the year ended 31 March 2014.

Highlights

•Significant improvement in profit before tax and amortisation by 16% to £20.1 million (2013: £17.4 million)


•Revenues increased 10% to £183.1 million (2013: £167.0 million)


•Basic earnings per share pre-amortisation rose 18% to 42.0 pence


•Return on capital employed improved to 13.5% (2013: 13.3%) maintained above target threshold of 12% for 10 consecutive years


•Continued strong cash flow generation with EBITDA increasing to £44.3 million (2013: £41.0 million)


•Increase in net debt to £53.0 million (2013: £45.3 million) after funding:

◦Capital investment in the fleet of £38.2 million


◦Successful £4.6 million acquisition of Mr Cropper in September 2013



•Final dividend proposed of 10.4 pence per share, making a total of 14.0 pence for the full year (2013: 12.25 pence), an increase of 14%




Jeremy Pilkington, Chairman of Vp plc, commented:
"It has been another highly successful year for the Group with significant progress in revenue, profits, earnings per share and dividends.

Economic indicators in the UK and mainland Europe now appear more positive than for some time and all businesses within the Group are identifying significant opportunities for growth and investment.

We believe that our established financial discipline combined with the active pursuit of growth opportunities will continue to deliver quality returns for shareholders.

We look forward to the year ahead with confidence."

- Ends

Questor share tip: Vp enjoys signs of recovery

The smallcap rental firm reported solid trading as the construction market slowly recovers, says Questor

Revenues increased by 10pc to £183m, and pre-tax profits were up £2.5m, to £18.9m for the year ended March.

Revenues increased by 10pc to £183m, and pre-tax profits were up £2.5m, to £18.9m for the year ended March. Photo: Bloomberg News

By John Ficenec, Questor editor

3:00PM BST 07 Jun 2014



Vp
666p
Questor says HOLD


UK-based rental company Vp (VP) reported revenue and profits accelerating into the end of the year in its annual results last week and shares could rise further as it enjoys a recovery in its core construction market.


The company is well diversified across construction, oil and gas and equipment hire. Revenues increased by 10pc to £183m, and pre-tax profits were up £2.5m, to £18.9m for the year ended March.


Jeremy Pilkington, chairman, said: “Economic indicators in the UK and mainland Europe now appear more positive than for some time and all businesses within the Group are identifying significant opportunities for growth and investment.”


Management’s confidence in the outlook has been demonstrated by a significant increase in investment in its fleet of vehicles and equipment. Capital investment in the fleet was £38m, up from £32m a year earlier, and significantly more than the charge to just replace old equipment that is about £20m.

As UK exports continue to grow, Amy Wilson examines which sectors are most successful
HSBC


Vp is focusing its investment on its forklift truck business UK Forks. The booming UK housing market is driving strong demand for its vehicles and the company is looking to take advantage of revenue up 16pc to £16.3m and profits up 19pc to £2.5m in the year just ended.

Investment is also going into its Airpac Bukom business that provides well testing equipment to the oil and gas sector. Neil Stothard, managing director, said the company is seeing strong global demand for its equipment especially from the gas industry.

The core division of groundforce had a strong year with revenue up 14pc to £42.3m and operating profits largely flat at £7.9m. Groundforce provides hydraulic rams to shore up the sides of huge works like foundations. The division has been boosted by infrastructure work with particular help from the water utility sector, but this work will see falling demand in the year ahead.

Elsewhere, the company is benefiting from increasing work on Britain’s railways and the tool hire operation reported a steady 7pc increase in revenue to £66.2m, and profits of £4.8m.

Vp is a well diversified business and should benefit from even a tentative recovery in the construction sector. The company is a solid operator but the shares on 17 times forecast earnings are no better than a hold.

Vp: WH Ireland moves target price from 760p to 775p retaining a buy recommendation.

Director Deals - VP PLC (VP.)

BFN

Neil Stothard, Managing Director, bought 5,000 shares in the company on the 22nd July 2014 at a price of 662.50p. The Director now holds 781,116 shares.

Story provided by StockMarketWire.com
Director deals data provided by www.directorsholdings.com

Vp PLC : Acquisition

HUG



Press Release 30 July 2014

Vp plc
("Vp" or the "Group")

Acquisition

Vp plc, the equipment rental specialist, today announces the acquisition of the business and assets of the trackside plant and equipment rental activity of Balfour Beatty Rail Limited ("TP&E"), part of the Balfour Beatty Group ("Balfour Beatty") for a cash consideration of £5.5 million.

The TP&E rail equipment rental activity operates from a number of locations in the South East of England and will be integrated into Torrent Trackside, Vp's specialist rail business. The acquisition includes a five year framework agreement for the hire of trackside plant and equipment to Balfour Beatty Rail across the UK.

Jeremy Pilkington, Chairman of Vp plc, commented:

"This transaction further strengths our business relationship with the Balfour Beatty Group and at the same time positions Torrent Trackside as the leading supplier of specialist portable rail equipment and associated services to the UK rail sector."

- Ends -

Vp: WH Ireland takes target price from 775p to 800p and retains a buy recommendation.

All positive in Shares today - We've long considered VP as a good stock given healthy dividend growth , decent cash generation and robust management.

Vp PLC : Interim Management Statement

HUG



Press Release 20 August 2014

Vp plc

("Vp" or "the Group")

Interim Management Statement

Vp plc, the equipment rental specialist, today provides an update on the performance of the business since the announcement of its Final Results on 5 June 2014.

At the Annual General Meeting on 22 July 2014 we reported that the Group had maintained excellent business momentum into the new financial year. This trend has continued into August with good demand, in particular, from infrastructure and housebuilding, and a gradual improvement in general construction.

On 30 July 2014 we announced the acquisition of the trackside plant and equipment rental activity of Balfour Beatty Rail Limited for a cash consideration of £5.5 million. The initial integration with our rail activity, Torrent Trackside, is progressing well.

The Group continues to identify areas for further investment in its business streams and we remain well placed to deliver good progress this year.

- Ends -

Vp PLC : Pre-Close trading update

HUG



Press Release 29 September 2014

Vp plc

("Vp" or "the Group")

Pre-close trading update

Notice of Interim Results

Vp plc, the equipment rental specialist, is pleased to provide the following trading update as it enters its close period.

Vp has continued to experience positive trading conditions in the markets which the Group serves. The gradual but sustained recovery in the general construction and housebuilding markets, in particular, continues to be supportive to the Group's activities.

As such, the Board anticipate that the Group will deliver results for the year ended 31 March 2015 ahead of market expectations.

The Group confirms that it will announce its Interim Results for the six months ending 30 September 2014 on Thursday, 27 November 2014. An analyst briefing given by Jeremy Pilkington (Chairman), Neil Stothard (Group Managing Director) and Allison Bainbridge (Group Finance Director), will be held at 09.30hrs on Thursday, 27 November 2014 at the offices of Abchurch Communications, 125 Old Broad Street, London, EC2N 1AR.

- Ends -

VP. VP PLC Hires out tools to the construction industry. Not on many peoples radars. Should do well going forward.

Cracking results........

http://www.investegate.co.uk/vp-plc--vp--/gnw/vp-plc---interim-results/20141127070022H4637/

Broker Note out for VP.

http://www.equitydevelopment.co.uk/doc/1289.pdf

MIDAS SHARE TIPS UPDATE: Dig this! Our equipment hire recommendation Vp doubles after two years

By Joanne Hart, Financial Mail on Sunday

Published: 21:34, 29 November 2014 | Updated: 21:34, 29 November 2014

It is not often that an industrial company describes its results as ‘outstanding’, but equipment hire outfit Vp did just that last week – and the market seemed to agree.

As chairman Jeremy Pilkington unveiled a 27 per cent increase in profits to £16.2million for the six months to September, the shares rose 27p to 617p and analysts predicted more outperformance to come.

Midas tipped Vp in September 2012 at 304p. Since then, it has benefited from strong recovery in the housing sector and increasing confidence in construction.

Potential: Vp shares have more than doubled over the past two years - but there is more to come

The group leases equipment ranging from forklift trucks to trackside lighting for railway maintenance. Brokers expect profits to rise by 21 per cent to £24.3million in the year to March, with the dividend growing from 14p this year to at least 15p next.

The interim payment was raised last week by 39 per cent to 5p.

Midas verdict: Vp shares have more than doubled over the past two years but there is more to come. Investors should hold their stock, unless they desperately need the cash. New investors could buy on weakness.

Traded on: Main market Ticker: VP

SUNDAY QUESTOR Vp upgraded after strong start

The smallcap rental firm reported solid trading as the infrastructure outlook improves, says Questor


Revenues rose by 11pc, and pre-tax profits were up 27pc to £16.2m for the six months ending September

Revenues rose by 11pc, and pre-tax profits were up 27pc to £16.2m for the six months ending September Photo: Bloomberg News


By John Ficenec, Questor Editor

8:00PM GMT 29 Nov 2014


Vp
617p
Questor says HOLD


Broker upgrade

UK-based rental company Vp reported revenue and profits accelerating in the first half of its financial year last week and shares could rise further after broker WH Ireland upgraded full-year forecasts by 7pc. Vp is well diversified across construction, oil and gas and equipment hire. Revenues rose by 11pc, and pre-tax profits were up 27pc to £16.2m for the six months ending September.


Strong start

Jeremy Pilkington, chairman, said it was an “outstanding” set of results and a “positive start to the year”. The best performance came in the tool hire business, where profits jumped 78pc to £4.8m. Profits at the UK Forks business, which hires out cherry pickers, rose 54pc to £2.3m. Airpac Bukom, which hires out hydraulic equipment to the oil and gas industry, doubled profits to £1.7m.


Infrastructure boost

The company’s biggest division by revenue, Groundforce had a strong start with revenue rising 8pc to £22.6m and operating profits rising 7pc at £5m. Groundforce provides hydraulic rams to shore up the sides of huge works such as foundations. The division has been boosted by infrastructure work with particular help from the water utility sector, but this work is expected to slow next year.


Shares good value

The company is benefiting from increasing work on Britain’s railway, road and utility infrastructure. Vp’s diverse portfolio means it should benefit from even a tentative recovery in public construction. It is expected to achieve pre-tax profits of £23m, on revenue of £201m, giving earnings per share of 14.3p for the full year. The shares trading on 14 times earnings price in much of the good news. Hold.

Vp PLC : Interim Management Statement
HUG
Press Release 24 February 2015

Vp plc

("Vp" or "the Group")

Interim Management Statement

Vp plc, the equipment rental specialist, today provides an update on the performance of the business since the announcement of its Interim Results on 27 November 2014.

The Group has continued to trade well through the winter period assisted by relatively mild weather conditions and customer demand has picked up steadily through the early part of 2015. The construction, housebuilding and infrastructure sectors remain strong, though the Board does anticipate a limited impact on the Group's oil and gas related activities following on from the recent reduction in global oil prices.

Overall the business is trading well, and with a momentum that leads the Board to believe that the Group will deliver full year results ahead of current market expectations for the year ended 31 March 2015.

- Ends -

Shares - After a strong first half update and a subsequent upgrade to management’s profit expectations in February, shares in Vp have moved nowhere on a one-year timescale. This underperformance has puzzled analyst James Tetley at N+1 Singer.

‘Vp’s performance over the past 12 months has lagged peers despite the group outperforming most in earnings upgrade momentum,’ writes Tetley.

As house broker, N+1 does not offer ‘buy’ or ‘sell’ ratings on the stock. Tetley says he believes Vp’s intrinsic value is in excess of 700p a share. WH Ireland analyst Nick Spoliar estimates the stock is worth 800p and forecasts earnings per share for the year to March 2015 will hit 48.1p, rising to 52p the year after. He has a ‘buy’ rating on Vp.

Vp PLC : Final Results
HUG
4 June 2015


Vp plc

("Vp" or the "Group" or the "Company")

Final Results


Vp plc, the equipment rental specialist, today announces its Final Results for the year ended 31 March 2015.



Highlights

Significant improvement in profit before tax and amortisation up 33% to £26.8 million (2014: £20.1 million)

Revenues increased 12% to £205.6 million (2014: £183.1 million)
Basic earnings per share pre-amortisation rose 30% to 54.5 pence
Return on capital employed increased to 16.2% (2014: 13.5%)
Strong cash flow generation with EBITDA increasing to £53.8 million (2014: £44.3 million)

Increase in net debt to £66.8 million (2014: £53.0 million) after funding:

Capital investment in the fleet of £49.3 million

Acquisition of the trackside plant and equipment rental business of Balfour Beatty Rail Limited for £5.5 million

Final dividend proposed of 11.5 pence per share, making a total of 16.5 pence for the full year (2014: 14.0 pence), an increase of 18%



Jeremy Pilkington, Chairman of Vp plc, commented:
"It has been a record breaking year for the Group with significant progress made across all key metrics including profits, revenue, earnings per share and dividends. The economic environment in both the UK and globally is more positive than for some time and all Group business divisions are identifying significant growth and investment opportunities for the near and long term future."

"The Board believes that Vp's diverse business model coupled with an active pursuit of growth opportunities will help to continue to deliver quality returns for our shareholders. We look forward to the year ahead with much confidence."





- Ends -

Questor-share-tip-Equipment-rental-firm-Vp-reports-record-profits

MIDAS-SHARE-TIPS-UPDATE-Plant-hire-group-Vp-shares-rise-150%

Vp PLC : AGM Statement
HUG
Press Release 21 July 2015

Vp plc
("Vp" or the "Group")

AGM Statement

Vp plc, the equipment rental specialist, announces that at the Group's Annual General Meeting held earlier today, all resolutions put to Shareholders by the Board were duly passed.

Speaking at the Annual General Meeting, Jeremy Pilkington, Chairman, commented:

"I am very pleased to report that the Group has had a solid start to the new financial year.

The Group's key markets are generally performing well, with construction and housebuilding remaining positive. As anticipated the oil and gas sector remains quieter, as does transmission.

The business continues to trade well overall, and we remain in a good position to deliver further progress in this financial year."

- Ends -

Final Results

RNS


RNS Number : 3738A

Vp PLC

07 June 2016







For immediate release

7 June 2016




Vp plc



("Vp", the "Group" or the "Company")



Final Results



Vp plc, the equipment rental specialist, today announces its Final Results for the year ended 31 March 2016.



Highlights


· 11% improvement in profit before tax and amortisation to £29.8 million (2015: £26.8 million)


· 2% increase in revenues to £208.7 million (2015: £205.6 million)


· 14% increase in basic earnings per share, pre-amortisation, to 62.21 pence


· Return on average capital employed increased to 16.3% (2015: 16.2%)


· EBITDA up 10% to £59.3 million (2015: £53.8 million)


· Net debt of £86.1 million (2015: £66.8 million) after funding:


o Capital investment in the fleet of £45.9 million


o Acquisitions of Test & Measurement and Higher Access for £8.1 million


· Final dividend proposed of 13.5 pence per share, making a total of 18.85 pence for the full year (2015: 16.5 pence), an increase of 14%




Jeremy Pilkington, Chairman of Vp plc, commented:

"Following last year's record breaking results, the Group has continued to make further good progress this year reporting another strong financial performance with improvements in profits, margins and returns, delivered from a relatively modest growth in revenues. This trend is expected to continue as the varying demands of supportive infrastructure, housebuilding and construction markets play against a challenged oil and gas sector."







"It has also been a busy period for acquisitions, with two businesses acquired in the UK and post year end, the acquisition of TR Pty Ltd, which significantly expands the Group's non-UK revenue base, one of our key longer term strategic objectives."



"We enter the new financial year in good shape, with most end markets offering supportive trading environments and with the prospect of contributions from our acquisitions. Our business model of diverse and specialist services continues to serve us well and with the new financial year starting positively, we look forward to another year of progress for Vp and our shareholders."



- Ends -

Interim Results
RNS
RNS Number : 3587Q
Vp PLC
29 November 2016
 
 
 
 
 
 
 
29 November 2016
 
 
Vp plc
 
("Vp", the "Group" or the "Company")
 
Interim Results
 
Vp plc, the equipment rental specialist, today announces its Interim Results for the six months ended 30 September 2016 (the "period").
 
Highlights
 
·      
Profit before tax and amortisation increased 9% to £18.7 million (H1 2016: £17.2 million)
·      
Revenues 16% ahead at £121.7 million, (H1 2016: £105.1 million)
·       
Strong return on average capital employed at 15.6% (H1 2016: 16.1%)
·       
Capital investment in rental fleet up 28% to £29.9 million (H1 2016: £23.4 million)
·       
EPS, pre-amortisation, increased 8% to 37.9 pence per share (H1 2016: 35.1 pence per share)
·       
12% increase in interim dividend to 6.00 pence per share (H1 2016: 5.35 pence per share)
 
Jeremy Pilkington, Chairman of Vp plc, commented:
 
"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."
 
 
 
- Ends

Acquisition and Trading Update
RNS
RNS Number : 8577B
Vp PLC
07 April 2017
 
For immediate release
7 April 2017
 
Vp plc
 
('Vp' or the 'Group')
 
Acquisition and Trading Update
 
Acquisition
 
Vp plc, the equipment rental specialist, today announces the acquisition of the business and assets of the mechanical and electrical equipment rental and sales activity of Jackson Mechanical Services (UK) Limited (JMS M&E) for a cash consideration of £3.6 million.
 
The JMS M&E rental activity operates from locations in Harpenden and Leeds and will be integrated into Hire Station, Vp's specialist tool hire business. Hire Station provides tool hire, safety equipment, low level access and press fitting equipment to industry, construction and other sectors in the UK.
 
Vp Trading Update
 
Since the interim results announcement on 29 November 2016, Vp has experienced positive trading conditions through the winter period and continues to make good progress.  The Board anticipates that the Group will deliver full year results in line with current market expectations for the year ended 31 March 2017.
 
Commenting on the acquisition, Jeremy Pilkington, Chairman of Vp plc, said:
 
"We are very pleased to welcome the JMS M&E team to the Vp Group.  This acquisition will provide additional strength to our successful Hire Station specialist businesses."
 
- Ends -

Acquisition and Notice of Final Results
RNS
RNS Number : 1701D
Vp PLC
25 April 2017
 
For immediate release
25 April 2017
 
Vp plc
 
('Vp' or the 'Group')
 
Acquisition and Notice of Final Results
 
Acquisition
 
Vp plc, the equipment rental specialist, today announces the acquisition of the entire issued share capital of Zenith Survey Equipment Limited ('Zenith') for a cash consideration of £3.85 million plus assumed debt of £2.3 million.
 
Zenith was founded in 1986 and trades as Zenith Survey in England & Wales, and Survey Connection in Scotland.  The business is engaged in the specialist rental and sale of survey and safety equipment from seven locations across the UK.
 
Zenith primarily serves the construction and civil engineering sectors, and will be integrated within ESS Safeforce, part of Hire Station, Vp's specialist tool hire business.
 
Commenting on the acquisition, Jeremy Pilkington, Chairman of Vp plc, said:
 
"The acquisition of a well established business like Zenith represents an important expansion of Vp's specialist tool hire activities.  I am delighted to welcome the experienced Zenith team to the Vp Group."
 
Notice of Final Results
 
The Group will be announcing its Final Results for the year ended 31 March 2017 on Tuesday, 6 June 2017.
 
An analyst briefing given by Jeremy Pilkington (Executive Chairman), Neil Stothard (Chief Executive) and Allison Bainbridge (Group Finance Director), will be held at 09.30hrs on Tuesday, 6 June 2017 at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.
 
- Ends

Acquisition of Brandon Hire Group Holdings Limited
RNS
RNS Number : 8834V
Vp PLC
08 November 2017
 
Press Release
8 November 2017
 
 
 
 
 
Vp plc
 
('Vp' or the 'Group')
 
Acquisition of Brandon Hire Group Holdings Limited
 
Vp plc, the equipment rental specialist, today announces the acquisition of the entire issued share capital of Brandon Hire Group Holdings Limited and its subsidiaries ('Brandon Hire') for a cash consideration of £41.6 million payable on completion and assumed net debt of approximately £27.2 million.  The acquisition has been funded from new banking facilities with the Group's  lenders.
 
Established in 1971, Brandon Hire is a major national tool and equipment hire business with over 900 employees, which operates from a network of 143 locations across the UK.  Brandon Hire has an extensive customer base focused predominantly on small to medium sized enterprises ('SMEs') operating in regional and local geographic markets.
 
A well established, profitable business, Brandon Hire operates a full range of tool hire equipment with an operational model which is closely aligned to Vp's own specialist tool hire business, Hire Station.
 
The combination of the two businesses will, over the medium term, deliver economies of scale in purchasing and operations and will create a leading specialist tool hire business within the UK division of Vp plc.
 
For the year ended 31 December 2016, Brandon Hire's revenues were £79.8 million, generating profits before interest, tax, exceptionals and amortisation of £6.0 million from gross assets of £50.6 million.
 
Commenting on the acquisition of Brandon Hire, Jeremy Pilkington, Chairman of Vp plc, said: "The acquisition of a well established business of the size and quality of Brandon Hire is a significant development for Vp.  We have, over recent years, developed an industry leading specialist tool hire business in the UK.  This transaction represents a major step change in the scale and scope of our specialist tool hire offering.
 
The Vp and Brandon Hire business cultures are closely aligned and we look forward to working with all of the Brandon Hire employees in developing the business further over the coming years."
 
Neil Stothard, Chief Executive of Vp plc, said: "Brandon Hire is a long established, well managed profitable business which is an extremely positive addition to the Vp group.  With an extensive branch network, Brandon Hire is an excellent geographic fit with our current specialist tool hire operations and we expect this acquisition to be earnings enhancing to the Group in the first twelve months of ownership."
 
As previously announced, Vp's Interim Results for the six months ended 30 September 2017 will be announced on Tuesday, 21 November 2017.
 
- Ends -

Interim Results
RNS
RNS Number : 0333X
Vp PLC
21 November 2017
 
 
 
 
 
 
 
Press Release
21 November 2017
 
Vp plc
 
('Vp' or the 'Group')
 
Interim Results
 
Vp plc, the equipment rental specialist, today announces its Interim Results for the six months ended 30 September 2017.
 
Highlights
 
·      
Profit before tax and amortisation increased 13% to £21.2 million (H1 2017: £18.7 million)
·      
Revenues of £136.0 million, 12% ahead (H1 2017: £121.7 million)
·       
Return on average capital employed marginally increased to 16.0% (H1 2017: 15.6%)
·       
EBITDA increased to £41.1 million (H1 2017: £36.3million)
·       
Capital investment in rental fleet up 9% at £32.5 million (H1 2017: £29.9 million)
·       
EPS, pre amortisation, increased 17% to 44.2 pence per share (H1 2017: 37.9 pence per share)
·       
Interim dividend increased by 13% to 6.80 pence per share (H1 2017: 6.00 pence per share)
·       
Statutory profit before tax of £20.3 million (H1 2017: £17.7 million) and statutory earnings per share of 42.5 pence (H1 2017: 35.9 pence)
 
Post-period end
·      Acquired the entire issued shared capital of Brandon Hire Group Holdings Limited and its subsidiaries ('Brandon Hire') for a cash consideration of £41.6 million plus debt of £27.2 million, which will create a market leading offering in the UK specialist tool hire sector
·      Purchased First National, a specialist rough terrain forklift rental business for £0.9 million and debt of £0.8 million, being integrated into UK Forks
 
 
Jeremy Pilkington, Chairman of Vp plc, commented: "Vp has again delivered an excellent set of results for the half year.  The UK market remains strong, and whilst there is some uncertainty around the implications that Brexit will have on the UK, the day-to-day demand continues to be highly positive.  There is also an improving trend for our International Division in the second half of the year.
 
A significant post period highlight was the successful acquisition of Brandon Hire and this, coupled with the organic opportunities available elsewhere within the Group, encourages the Board to look forward to the second half of the year and beyond with every confidence."
 
- Ends -

10:50 06/04/2018
Broker Forecast - Peel Hunt issues a broker note on VP PLC
Peel Hunt today downgrades its investment rating on VP PLC (LON:VP.) to hold (from hold). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

Final Results
RNS
RNS Number : 2623Q
Vp PLC
05 June 2018


For immediate release
5 June 2018

Vp plc

('Vp', the 'Group' or the 'Company')

Final Results

Vp plc, the equipment rental specialist, today announces its Final Results for the year ended 31 March 2018.

Highlights
· 16% increase in profit before tax, amortisation and exceptional items to record level of £40.6 million (2017: £34.9 million)
· 22% growth in revenues to £303.6 million (2017: £248.7 million)
· Basic earnings per share, pre-amortisation, increased 18% to 81.80 pence (2017: 69.52 pence)
· Final dividend proposed of 19.2 pence per share, making a total of 26.0 pence for the full year (2017: 22.0 pence), an increase of 18%
· EBITDA before exceptionals up 18% to £84.3 million (2017: £71.2 million)
· Net debt of £179.2 million (2017: £98.9 million) after funding:
o Capital investment in the fleet of £64.9 million (2017: £57.6 million)
o Acquisitions of £49.7 million plus assumed debt of £30.5 million
· Return on average capital employed 14.8% (2017: 16.0%)
· Statutory profit before tax of £30.8 million (2017: £30.3 million) and statutory earnings per share of 61.72 pence (2017: 60.31 pence)

Commenting on the Final Results, Jeremy Pilkington, Chairman of Vp plc, said:
"It has been another year of significant progress for the Group underpinned by record profits and the acquisition of Brandon Hire, our largest to date. In view of this outstanding set of results, the Board is recommending a final dividend of 19.2 pence per share making a total for the year of 26.0 pence per share, an increase of 18%.

We entered the new financial year in excellent shape and whilst there may be market uncertainties, we look forward to the new financial year with confidence."

Neil Stothard, Chief Executive of Vp plc, added:
"The start to the new financial year has been positive. We anticipate that our core UK markets will continue to provide a strong platform for future growth to our UK division. Internationally we do see some recovery in the oil and gas segment and a supportive Australian economy. We continue to drive positive change and development through the whole of Vp and we remain excited about delivering on those initiatives in the new financial year."

- Ends -

09:50 05/06/2018
Broker Forecast - Peel Hunt issues a broker note on VP PLC
Peel Hunt today reaffirms its hold investment rating on VP PLC (LON:VP.) and raised its price target to 1000p (from 900p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

New highs

Interim Results
RNS
RNS Number : 5376I
Vp PLC
27 November 2018





Press Release
27 November 2018

Vp plc

('Vp' or the 'Group')

Interim Results

Vp plc, the equipment rental specialist, today announces its Interim Results for the six months ended 30 September 2018 ('H1 2019' or the 'period').

Highlights

·
Profit before tax and amortisation increased 22% to £25.9 million (H1 2018: £21.2 million)
·
Revenues up by 42% to £193.2 million (H1 2018: £136.0 million)
·
EPS, pre amortisation, increased 18% to 52.3 pence per share (H1 2018: 44.2 pence per share)
·
Interim dividend increased by 21% to 8.2 pence per share (H1 2018: 6.8 pence per share)
·
Return on average capital employed 14.5% (H1 2018: 16.0%)
·
EBITDA increased by 25% to £51.6 million (H1 2018: £41.1million)
·
Capital investment in rental fleet up 13% at £36.7 million (H1 2018: £32.5 million)
·
Statutory profit before tax of £23.9 million (H1 2018: £20.3 million) and statutory earnings per share of 48.3 pence (H1 2018: 42.5 pence)

Jeremy Pilkington, Chairman of Vp plc, commented: "The Group has produced yet another excellent set of results with revenues, profits and earnings per share all significantly ahead. Both our UK and International Divisions have performed strongly with most of our business units busy supporting stable end markets. In the UK Division, whilst Brexit continues to be a distraction, day to day activity seems to be continuing largely unaffected.

With the benefit of a strong first half, which includes an in line contribution from Brandon Hire, we look forward to the remainder of the year, and beyond, with every confidence."

- Ends -