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Vp revenue recovers to 95% of pre-Covid levels
StockMarketWire.com
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Equipment rental group Vp said its revenues had recovered to 95% of pre-Covid levels since its interim results were issued on 7 December.
'The board is pleased to report that the group has traded in line with its expectations despite economic activity in many areas remaining constrained by Covid restrictions, Vp said.
Vp said its core markets of infrastructure, construction and housebuilding had experienced a positive trajectory over recent months.
The company said it was confident that the recovery would accelerate and 'become increasingly robust'.
Net debut had fallen by 22% from £160 million at 1 April 2020 to £124 million at 31 March 2021.
'As we have seen specific markets pick up, we have started to invest again in new equipment to meet demand as the latent capacity of the fleet has been drawn back into productive use,' chief executive Neil Stothard said.
'The timing of some of this investment has been accelerated due to hopefully short term supply chain challenges for certain products, relating to both Covid-19 and Brexit disruptions.'
At 8:03am: (LON:VP.) VP PLC share price was 0p at 649p
Story provided by StockMarketWire.com
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