British rental company VP increased its pre-tax profit by 36 percent to £14.5 million (about U.S. $28.7 million) for the year ended March 31.
The company said its markets all performed well, and that the oil, gas and water sectors were particularly strong.
Its GroundForce division, specializing in excavation-support services and Hire Station tool-rental business were very strong, but the UK Forks division, which specializes in material-handling equipment, was affected by consolidation in the housing industry, leading to disappointing volumes in the southeast, although housing improved in the last quarter.
Hire Station doubled its profits to more than £3.1 million on £44.9 million in revenue, which the company attributed to improved operational efficiency.
“The outlook remains positive and we are confident the group can deliver sustainable growth,” said chairman Jeremy Pilkington.
Revenues grew 22 percent to £121.6 million for the year.