RERMAG

Vp Posts Powerful Six-Month Growth Numbers

Vp plc, U.K.-based rental company, posted a 21-percent increase in profit before tax and amortization for the six-month period ended Sept. 30 in interim results announced this week. Revenues for the six-month period totaled £84 million (about U.S. $131.9 million), compared with £71.1 million for the same period in 2010, an 18.1-percent leap.

Capital investments increased to £15.9 million (about U.S. $25 million), compared with £8.9 million in the year-ago period a 78.7-percent increase.

“I am pleased to report an outstanding set of results demonstrating strong revenue and profit growth along with excellent cash generation,” said Jeremy Pilkington, Vp chairman. “The impact of individual sector weaknesses continues to be mitigated through the diversity of the group’s activities, a strong balance sheet and significant investment into growth opportunities.”

In addressing future prospects, a cautious Pilkington added “the economy shows little sign of returning to any reasonable level of sustainable growth and the Eurozone problems provide further negative sentiment. However, we continue to demonstrate our ability to deliver success, even in the most challenging circumstances, which, combined with our strong financial position, give the board confidence that Vp can continue to deliver satisfactory results.”

Vp plc is based in Harrowgate, North Yorkshire, U.K.

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