In a trading update on the past 10 weeks, the company said that overall demand had “remained relatively consistent with that experienced in the first half of the current financial year”. Full year results for its financial year ending 31 May should be “very satisfactory” and in line with market expectations, the company said.
It added: “We have continued to invest in the business as opportunities have been secured. Debt levels within the Group remain well within our committed facilities and the associated covenants.
“We continue to concentrate on optimising the performance of our existing business streams. We believe a sustained economic recovery is likely to be some way off. However, we do anticipate that opportunities will appear in the future and our strong balance sheet will enable us to embrace these as they arise.
“Our resilient business model of providing specialist equipment services to a diverse range of markets remains a significant asset. We believe that the Group will deliver another very satisfactory result in the current financial year.”
Vp has also announced that former Yorkshire Water finance director Allison Bainbridge is joining the business next month as group finance director.
Vp’s services are spread across six divisions:
- Airpac Bukom Oilfield Services: Equipment and service providers to the oil and gas sector
- Groundforce: Excavation support systems
- Hire Station: Tool hire
- Torrent Trackside: Equipment and services for the railway industry
- TPA: Portable roadway systems, bridging, fencing and barriers
- UK Forks: Telehandler hire.
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