Group Web Site : http://www.vpplc.com/


Vp plc, the equipment rental specialist formerly called Vibroplant which was founded in 1954. Vp is a well established group which has evolved over its 50 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 :-

TPA
Portable roadway systems, bridging, fencing and barriers primarily to the UK
market, but also in the Republic of Ireland and mainland Europe.

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

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

Groundforce
Excavation support systems and specialist products for the water, civil
engineering and construction industries.

UK Forks
Rough terrain material handling equipment for industry, residential and general
construction.

Airpac Bukom Oilfield Services
Equipment and service providers to the international oil and gas exploration and
development markets.

http://www.investegate.co.uk/Article.aspx?id=200806050700040059W


RNS Number : 0059W
Vp PLC
05 June 2008

Final Results

Vp plc, the equipment rental specialist, today announces its Final Results for the year ended 31 March 2008.

Highlights

Revenues ahead 23% to 149.3 million (2007: 121.6 million)
Profit before tax and amortisation rose 39% to 20.2 million (2007: 14.5 million)
Basic earnings per share up 48% to 36.09p (2007: 24.40p)
Proposed final dividend of 7.7p per share, increases the total dividend for the year by 27% to 10.50p per share (2007: 8.25p)
Significant capital investment of 43 million in rental fleet; eight acquisitions completed for an aggregate consideration of a further 11 million
Solid balance sheet with strong operational cashflows

Jeremy Pilkington, Chairman, commented:
"This is another year of record results reflecting the underlying strength of the Group, and the successful implementation of our strategy to build a resilient business with diversified market exposure and leading market positions. We look forward to the future with confidence.'

Excellent results, beat expectations of 30p by 20%, and outlook seems good. They reckon they're quite resilient to the downturn in construction:

The Vp business model calls for market leading positions in specialist sectors with value adding opportunities, increasingly outside of mainstream construction. Energy, infrastructure, environmental quality, health and safety legislation and the continuing trend to outsourcing are all key drivers in the Vp business mix. The changing economic climate will undoubtedly present challenges to growth but as yet we have not seen any significant impact on our markets, with the exception of UK residential construction. New housing starts have clearly slowed but we believe that any softness here will be more than offset by buoyancy elsewhere, particularly within the oil and gas and electricity transmission sectors.

A write up at TMF :


http://boards.fool.co.uk/Message.asp?mid=11161925



.

Buy/ Hold Recommendation from Growth Company Investor

Growth Company Investor