VP reports ‘resilience’ in face of mixed end markets

UK rental business Vp plc said its full year to 31 March 2025 saw a “resilient performance” in line with market expectations, which would mean revenues roughly flat with the £369 million reported for the year to March 2024.

The company said conditions in its most important end market, infrastructure, had been generally supportive, with strong activity levels in water projects and power transmission upgrades, although activity in railways was slower than expected.

It said the construction market remained mixed, with good levels of activity in London and the Republic of Ireland, while housebuilding markets were subdued.

VP said its Brandon Hire Station tool hire business had performed slower than anticipated, despite actions to improve the division. It said it continued to monitor the division’s performance closely.

Anna Bielby, chief executive of Vp, said: “I am pleased to report a strong performance that continues to demonstrate the resilience of our specialist businesses and end markets, reinforced by improvements made to the Group’s operating model.

“While we have seen challenges in some of our markets alongside wider geo-political uncertainty, our clear strategy combined with our strong balance sheet and investment commitments by the UK Government, underpins our ability to continue generating long-term sustainable shareholder returns.”