Vp "on course" to meet full-year guidance after first half

Vp PLC on Monday said it expects to meet market expectations for the full year, after steady trading during its first six months.

The Harrogate, England-based equipment rental company said its International segment continues to perform well, and that the Brandon Hire Station division's performance has improved after a restructure last year.

Vp noted that the "General Construction market" continues to face challenges, and that it has recognised "some exceptional costs relating to the restructure" in the financial year ending March 31.

Vp also said that the electricity transmission end market "continues to perform well," while the rail market "remains stable". It also reported "encouraging momentum in water as AMP8 activity has grown in the second quarter."

The company believes it "remains on course to perform in line with market expectations" for the current financial year, and expects the second half to outperform that of the prior year.

Vp cited analyst consensus for £351.3 million in revenue; £154.4 million in pre-IFRS net debt; and £32.5 million in pretax profit before amortisation and impairment of goodwill, trade names and customer relationships and exceptional items.

For the year ended March 31, 2026, Vp in June reported £358.3 million in revenue; adjusted profit of £27.0 million; a £7.0 million pretax loss; and net debt of £148.9 million, excluding the impact of IFRS 16 lease liabilities. Alongside its annual results, it guided for £352.1 million in revenue, £150.8 million in pre-IFRS net debt, and £33.1 million in adjusted profit.

Vp said on Monday that it continues to progress its strategic priorities, which include "growth across its specialist businesses," and that investments in its "digital transformation" continue to improve operational efficiency.

"The first half of the financial year has again demonstrated the strength and resilience of our diverse business model," commented Chief Executive Alice Woodwark. "Momentum in our UK segment increases our second half confidence, where we remain well positioned to take advantage of supportive infrastructure markets, specifically in water and electricity transmission. We will provide further details at our interim results."

Vp intends to release its results for the six months ended September 30 on November 25.

Vp shares were 2.2% higher at 523.44 pence on Monday noon in London.

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