Vp (formerly known as Vibroplant) has reported a 5% growth in revenue to £141.0m for the year to 31 March 2011.
Pre-tax profit was down 15% to £12.2m.
Profit before amortisation, exceptional items and tax of £13.8 million (2010: £16.0 million)
Chairman Jeremy Pilkington said the results were “very satisfactory… given the current trading environment and the continuing recessionary pressures felt in many of our markets”.
He added: “The group enters the new financial year with a strong balance sheet and I have every confidence that we will continue to create opportunities and deliver satisfactory business performance over both the short and longer term.
“This year has seen pressures and difficult markets faced by many parts of the group, but these results reflect the benefit of the strong market positions we hold and the resilience of our strength through diversity business model.
“The new financial year will undoubtedly present us with further challenges and surprises but it has started well, and we have every confidence that we will continue to create opportunities and deliver satisfactory business performance over both the short and longer term.
Sector review
Hire Station (tool hire)
Turnover up 7% to £53.5m
Operating profit before amortisation and exceptional items down 6% to £3.0m
Investment in rental fleet £10.3m (2010: £4.5m)
Groundforce (trench and excavation systems)
Revenue down 8% to £30.3m
Operating profit before amortisation and exceptional items down 27% to £6.7m
Investment in rental fleet £3.8m (2010: £3.5m)
UK Forks (telehandlers)
Revenue up 2% to £10,8m
Operating profit before amortisation and exceptional items at £1.1m (up from break-even last year).
Investment in rental fleet £4.4m (2010: £100,000)
Airpac Bukom (oilfield services)
Revenue up 11 to £17.5m
Operating profit before amortisation and exceptional items down 31% to £2.7m
Investment in rental fleet £1.3m (2010: £4.6m)
Torrent Trackside (rail plant)
Revenue up 41% to £14.9m
Operating profit before amortisation and exceptional items up from £200,000 last year to £1.6m
Investment in rental fleet £2.9m (2010 £800,000)
TPA (portable roadway systems)
Revenue down 1% to £14.0m
Operating profit before amortisation and exceptional items down 36% to £1.4m
Investment in rental fleet £1.5m (2010: £500,000)
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