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British Hire Firm Vp Posts Strong First Fiscal Half

British equipment rental companies Vp PLC announced volume of 61.3 million pounds {about U.S. $120 million) for the six-month period ended Sept. 30, a 29.8-percent increase compared with the same period last year. The company said 30 percent of the increase was the result of organic growth. Interim pre-tax profits rose 42 percent to about 7.8 million pounds (about U.S. $15.3 million). Meanwhile operating profits grew 56 percent to 8.7 million pounds (about U.S. $17.1 million).

The group’s biggest business is Groundforce, which rents and sells excavation and shoring equipment to the utilities, civil engineering and construction industries. Groundforce posted a 7.8-percent increase in operating profits to about 2.75 million pounds (about U.S. $5.4 million).

Hire Station, Vp’s tool and safety equipment rental business, saw operating profits more than double from 490,000 pounds (about U.S. $961,300) to 1.35 million pounds (about $2.6 million).

Vp’s oilfield services division, which supplies the oil and gas industry, more than doubled its operating profits to 1.25 million pounds (about U.S. $2.45 million).

Vp is based in Harrowgate, Yorkshire, England.

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