Interim Management Statement
(Thomson Reuters ONE) - Press Release 18 August 2009 Vp plc ("Vp" or "the Group") Interim Management StatementAs anticipated, the trading environment has continued to bechallenging in the period since the final results announcement in May2009 and recovery is expected to be slow. However, the diversity ofthe Group remains a strength and has provided some resilience todifficult trading conditions.Demand in general contracting has softened as projects have beencancelled or deferred and whilst some stability has returned to thehousebuilding sector, activity remains at historic lows. By contrastthe UK infrastructure and regulated utility markets continue toprovide good opportunities to our specialist businesses. The oil andgas sector has remained satisfactory over the period, as hastransmission, though the latter at lower levels of activity thanprior year. The slowed rate of investment on the rail network hasimpacted our rail activities in the period, though we still believethe longer term prospects in this sector remain positive.Our focus in the current year is to conserve cash and we haveoperated at significantly reduced levels of capital expenditure sincethe start of the new financial year. The balance sheet remainsrobust, net debt is reducing and effective working capital managementhas been maintained.General market uncertainties persist but the business remains inexcellent financial health. Our exposure to a wide range ofregulated and outsourcing markets provides some cushion to thegeneral economic slowdown. We believe that, subject to no furtherdeterioration in our markets, we remain in position to deliveranother satisfactory result in the current financial year. - Ends -For further information please contact:Vp plcJeremy Pilkington, Chairman Tel: +44 (0) 1423 533 400jeremypilkington(at)vpplc.comNeil Stothard, Group Managing Director Tel: +44 (0) 1423 533 445neil.stothard(at)vpplc.com www.vpplc.comMike Holt, Group Finance Director Tel: +44 (0) 1423 533 445mike.holt(at)vpplc.com www.vpplc.comMedia enquiries:Abchurch CommunicationsGeorge Parker / Mark Dixon Tel: +44 (0) 207 398 7719george.parker(at)abchurch-group.com www.abchurch-group.comNotes to editors:About VpThe main activity of the Group is equipment rental and associatedservices principally conducted within the UK. Vp plc listed on theLondon Stock Exchange in 1973.The Group is focused on six businesses:Hire StationTools and specialist products for industry, construction and homeowners.TPAPortable roadway systems, bridging, fencing and barriers primarily tothe UK market, but also in the Republic of Ireland and mainlandEurope.Torrent TracksideInfrastructure equipment and services for the railway renewals andmaintenance industry.GroundforceExcavation support systems and specialist products for the water,civil engineering and construction industries.UK ForksRough terrain material handling equipment for industry, residentialand general construction.Airpac Bukom Oilfield ServicesEquipment and service providers to the international oil and gasexploration and development markets.---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 18.08.2009 - 08:02 Uhr
Sprache: Deutsch
News-ID 4808
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