Harrogate-based equipment rental group Vp plc said it has launched Vp Rail, an integrated rail business “providing customers with a direct access to all the group’s rail specialisms.”

Vp aso published first-half results for the six months ended September 30,2024, showing revenue was £192.5 million, a 1% increase on the prior period (H1 2024: £190.9m). Adjusted profit was slightly down at £21 million.

Interim dividend is maintained at 11.5p per share.

“The launch creates a new end market focus for the Group, providing customers with direct and easier access to Vp’s scale and rail capabilities from across its divisions,” said the company.

“Vp Rail is headed  by Carl Abraitis, Director of Vp Rail.

“Vp Rail aims to be easy to work and transact with, providing customers with a single point of contact for project support, a central hire desk and streamlined quotation and invoicing process regardless of the size of the project.

“The launch is the Group’s latest development following the announcement of its refreshed strategy in June 2024. A key focus of this strategy is to ensure that the Group’s specialist divisions work more closely together to drive growth and to focus on end markets. This is supported by an enhanced digital strategy which aims to simplify processes and improve the customer experience.

“Vp has a 30-year track record of working on the UK railways network including 14 years as a framework contractor to Network Rail. Torrent Trackside, its principal rail plant, people and solutions business, already works for many of the tier 1 and tier 2 contractors and a number of joint venture partners. Key projects to date have included the West Coast Main Line route modernisation, HS1 and HS2, Crossrail and the Transpennine Route upgrade.”

 Vp CEO Anna Bielby said: “Due to its specialist businesses and diversified revenue streams, the Group has delivered a robust performance in the first half of the year, despite challenging conditions in some end markets.

“In parallel, Vp is progressing well with its refreshed strategy; centralising operations and investing in people. While market headwinds persist in the short-term, management remains encouraged by market opportunities, particularly in areas such as Rail, Water and Transmission.

“These opportunities, alongside strategic progress, a strong financial position and increased investment in the rental fleet, position the Group well for the future.”