In the year to 31st March 2025, Vp increased group revenue by 3% to 拢380.0m (2024: 拢368.7m), with adjusted profit decreasing by 8% to 拢36.7m (2024: 拢39.9m).
However, statutory profit before tax soared from 拢2.8m to 拢21.7m.
Exceptional items of 拢10.9m included 拢3.8m of restructuring costs (primarily related to UK Forks and Brandon Hire Station) and 拢5.4m of impairment charges.
Highlights of the year included the 拢10m acquisition of Charleville Hire & Platform (CPH) in October 2024, increasing Vp鈥檚 presence in the Republic of Ireland, and the launch of Vp Rail, offering rail sector customers a single point of access to the various operating businesses within Vp.
The Vp group includes Groundforce, TPA, Torrent Trackside, Brandon Hire Station, ESS, MEP Hire, UK Forks, Airpac Rentals, Tech Rentals and now CPH.
Following on from the launch of Vp Rail last year, this year will see the launch of Vp Rental Solutions, offering central account management for strategic customers.
Chief executive Anna Bielby said: 鈥淥rganically, as well as investing in capex, opportunity exists for the group鈥檚 specialist divisions to work better together to provide cohesive solutions for customers.鈥�
Summarising the year鈥檚 performance, Anna Bielby said: 鈥淲e have delivered a resilient performance against a period of varied economic and geopolitical headwinds, with our diverse and increasingly collaborative specialist businesses driving sector leading returns. As a result of this performance and our robust balance sheet, we are pleased to propose an improved full year dividend 鈥� maintaining our 30+ year uninterrupted track record and aligning with our commitment to deliver long-term sustainable shareholder returns.
鈥淒uring the year, we continued to make changes to our operating model to capitalise on growth opportunities, including the centralisation of operations and the launch of Vp Rail.
鈥淰p has entered the new financial year in a solid position, with strong early momentum in Infrastructure and specialist construction. While we are encouraged by the UK government鈥檚 revitalisation initiatives in house-building, construction and infrastructure projects, it is important that we get clarity and certainty around these from the timely publication of its long-term industrial strategy.鈥�
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