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.

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."

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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."



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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."
 
 
 
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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."
 
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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.
 
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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.
 
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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."
 
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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."

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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."

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