Vp plc, the U.K.-based rental company, this week posted a 16-percent revenue increase for the year ended March 31 of £163.6 million (about U.S. $256.3 million) from £141.0 million in full-year 2011. Profit before amortization, exceptional items and tax increased 16 percent to £16.0 million (U.S. $25.1 million) from £13.8 million in 2011.
“Our continuous and determined focus on quality of profits has enabled us to invest more that £32 million in expanding and refreshing our rental fleet in the period whilst holding year-end debt at £40.4 million,” said Jeremy Pilkington, Vp chairman. “The strength of this year’s results once again demonstrates the benefits of our well-established strategy of focusing on specialist sectors where the Group can command strong market positions.”
Groundforce, the company’s excavation support systems, specialist solutions and trenchless technology rental division, reported year-end revenue of £33.7 million (U.S. $52.8 million), a 10-percent increase from £30.3 million in full-year 2011.
Small tool and specialty equipment division, Hire Station, reported year-end revenues of £60.3 million (U.S. $94.5 million), a 13-percent increase from £53.5 million for full-year 2011. “These results were particularly pleasing given that seasonal incomes from our cooling, drying and heating products were adversely impacted by the mild weather conditions both in the summer and winter periods,” Pilkington said.
Vp plc is based in Harrowgate, North Yorkshire, U.K.