Vp plc Earns 19 Percent Jump in Profits

Vp plc, the Harrowgate, England-based rental company, enjoyed a 4 percent revenue increase for the six-month period ended Sept. 30. The company grossed U.S. $82.1 million for the period, up from $79 million for the same period last year (based on current currency conversion rates.) Profit before tax rose 19 percent from $8.5 million in last year’s period to $10.2 million this year, not including integration costs of close to $700,000 in its recent acquisition of Pivotal Services. Gross profit for the period was around $25.6 million, up from around $24.4 million in the same period in 2004.

“Vp has made a strong start to the new financial year and created a platform which we believe will deliver a satisfactory outcome for the year as a whole,” said Vp chairman Jeremy Pilkington. “We are very pleased to have secured three important acquisitions and look forward to their contribution to future performance.”

In July, Vp acquired Pivotal Services. Last month it acquired Trax Portable Access Limited, a company specializing in the temporary roadway and access market. It also last month acquired the business and assets of Dudley Vale from GE Equipment Services Ltd. for about $6.1 million.

The company also last month arranged new bank funding comprising a 5-year, $78 million revolving credit line.

TAGS: Syndicate
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