Revenue up 19% to £249m at Harrogate’s Vp

Harrogate-based specialist equipment rental group Vp plc said revenue grew 19% to £248.7 million and statutory profit before tax rose to £30.3 million from £27.5 million in the year to March 31 and said the new financial year had started in line with its expectations.

Vp is recommending a final dividend of 16p per share, making a total for the year of 22p, an increase of 17%.

Vp CEO Neil Stothard said the firm anticipates that the UK construction market will continue to be stable and sees the possibility of some marginal improvement in the international oil and gas sector.

“We are targeting further growth both in the UK and in our international division,” said Stothard.

“Notwithstanding the increased prospect of inflationary pricing pressures, the UK election and Brexit negotiations, subject to a stable economic backdrop, Vp is well positioned to deliver further progress for the business, the employees and our shareholders in the coming year.”