Vp confident

11 October 2023

Despite a more challenging macroeconomic climate, Vp expresses overall confidence in its business prospects in a trading update issued today for the six months ended 30 September 2023. 

Vp comprises Brandon Hire Station, Groundforce, portable roadway business TPA, safety specialist ESS, mechanical and electrical equipment provider MEP Hire, Torrent Trackside and UK Forks in this country, along with Airpac Rental serving Australia and the international TR Group activity. 

The group says that within its UK businesses, infrastructure, including water, transmission and rail, continues to perform well, with longer‐term regulatory programmes proving supportive. Housebuilding demand remains “subdued but stable” while general construction remains challenging.

Vp states that its overseas businesses continue to trade well at levels ahead of the similar period in the previous financial year. 

Anna Bielby, Vp's Chief Executive who assumed the role following the retirement of Neil Stothard last month, said: "We have delivered a solid performance in the period and are confident that we will continue to achieve our objective of driving demand for our products and services. With our strong financial position, we have an excellent track record of successfully navigating volatility in our core markets. 

“We continue to closely monitor the impact of weaker markets in housebuilding and general construction; however, we remain confident that the group will continue to provide shareholders with an attractive level of returns."

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