Interim Management Statement
(Thomson Reuters ONE) -
Press Release 12 August 2010
Vp plc
("Vp" or "the Group")
Interim Management Statement
Vp plc, the equipment rental specialist, today provides an update on business
performance for the period since the announcement of its Final Results on 8th
June 2010.
As anticipated, Vp has experienced a period of stability in its markets and the
pattern of demand has been largely as expected.
The Group has seen some areas of improvement with the business benefitting from
a tentative recovery in house building and a modest uplift in rail activity.
Whilst infrastructure markets have generally held up well, as expected the AMP5
water programme has been slow to start. General contracting related demand
remains stable but with few signs of growth. The Group's oil and gas related
activities have experienced a slower than expected first quarter due to delays
on certain projects, but these are now underway and we remain confident that
this market will continue to offer good prospects going forward.
We have maintained our focus on cash conservation and whilst investment in the
business has continued in support of secured opportunities, we expect to see
borrowings reduced further in the current financial year. As announced at the
time of the Final Results, new banking lines have been agreed and were finalised
in July.
Whilst we anticipate further challenges ahead, particularly in construction
related markets, the trading outlook for the year remains unchanged.
- Ends -
Enquiries:
Vp plc
Jeremy Pilkington, Chairman Tel: +44 (0) 1423 533 405
jeremypilkington(at)vpplc.com
Neil Stothard, Group Managing Director Tel: +44 (0) 1423 533 445
neil.stothard(at)vpplc.com
Mike Holt, Group Finance Director Tel: +44 (0) 1423 533 445
mike.holt(at)vpplc.com www.vpplc.com
Media enquiries:
Abchurch Communications
Mark Dixon / Claire Dickinson Tel: +44 (0) 20 7398 7729
mark.dixon(at)abchurch-group.com www.abchurch-group.com
Notes to editors:
About Vp
The main activity of the Group is equipment rental and associated services
principally conducted within the UK. Vp plc listed on the London Stock Exchange
in 1973.
The Group is focused on six businesses:
Airpac Bukom Oilfield Services
Equipment and service providers to the international oil and gas exploration and
development markets.
Groundforce
Excavation support systems and specialist products for the water, civil
engineering and construction industries.
Hire Station
Tools and specialist products for industry, construction and home owners.
Torrent Trackside
Infrastructure equipment and services for the railway renewals and maintenance
industry.
TPA
Portable roadway systems, bridging, fencing and barriers primarily to the UK
market, but also in the Republic of Ireland and mainland Europe.
UK Forks
Rough terrain material handling equipment for industry, residential and general
construction.
Further information can be found at www.vpplc.com
[HUG#1437298]
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Source: Vp PLC via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 12.08.2010 - 08:01 Uhr
Sprache: Deutsch
News-ID 39471
Anzahl Zeichen: 0
contact information:
Town:
Harrogate
Kategorie:
Business News
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"Interim Management Statement"
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