Harrogate-based equipment rental group Vp plc said its revenue increased 3.1% to £380 million and statutory profit before tax increased from £2.8 million to £21.7 million in the year to March 31, 2025.

Full year dividend rises 1% to to 39.5p per share.

Adjusted profit fell 8% to £36.7 million.

Vp CEO Anna Bielby said: “We have delivered a resilient performance against a period of varied economic and geopolitical headwinds, with our diverse and increasingly collaborative specialist businesses driving sector leading returns.

“As a result of this performance and our robust balance sheet, we are pleased to propose an improved full year dividend – maintaining our 30+ year uninterrupted track record and aligning with our commitment to deliver long-term sustainable shareholder returns.

“During the year, we continued to make changes to our operating model to capitalise on growth opportunities, including the centralisation of operations and the launch of Vp Rail.

“Vp has entered the new financial year in a solid position, with strong early momentum in Infrastructure and specialist construction.

“While we are encouraged by the UK Government’s revitalisation initiatives in Housebuilding, Construction and Infrastructure projects, it is important that we get clarity and certainty around these from the timely publication of its long-term industrial strategy.”