REG - Vp PLC - AGM Statement

VPAnnouncement

25/07/2024 07:00

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RNS Number : 7326X  Vp PLC  25 July 2024

      25 July 2024

Vp plc ('Vp', the 'Group' or the 'Company')
AGM Statement

Vp plc, the equipment rental specialist, will hold its Annual General Meeting
('AGM') at 10am today. At the AGM, Jeremy Pilkington, Chairman of Vp, will
make the following statement:

"The Group continues to perform well despite challenges in certain end
markets. During the first quarter of the current financial year, the
infrastructure market has continued to be supportive with good momentum and
strong demand in transmission, water and civil engineering. We have, however,
experienced a slower start to the year in rail at the beginning of the new
Control Period, CP7. The energy market remains positive with strong demand
both in the UK and internationally.

The construction market is mixed, with growth in redevelopment projects but
challenging conditions in non-residential construction, where our plans to
improve the performance of Brandon Hire Station continue. Housebuilding
remains subdued, however we welcome the new Government's planning reforms to
boost housebuilding in addition to its pledges in infrastructure and rail and
are encouraged at this early stage.

We continue to progress our strategy, focussing on improving cross-divisional
collaboration and simplifying our operating model, supported by our digital
roadmap. The Group remains in a strong financial position with an excellent
track record of delivery and expects performance for the current financial
year to be in line with Board expectations."

-     Ends -

For further information:

 Vp plc
 Anna Bielby, Chief Executive               Tel: +44 (0) 1423 533 400
 Keith Winstanley, Chief Financial Officer  www.vpplc.com (http://www.vpplc.com)

 

 Media enquiries:
 Burson Buchanan
 Henry Harrison‐Topham / Jamie Hooper / George Beale    Tel: +44 (0) 20 7466 5000
 Vp@buchanan.uk.com (mailto:Vp@buchanan.uk.com)         www.buchanancomms.co.uk (http://www.buchanancomms.co.uk)

 

Notes to Editors

Vp plc is a specialist equipment rental business providing equipment, people,
services and support for specialist projects. It focuses on niche sectors
principally in the Infrastructure, Construction, Housebuilding and Energy
markets in the UK and overseas. Businesses include; Groundforce, TPA, Torrent
Trackside, Brandon Hire Station, MEP, ESS, UK Forks, Airpac Rentals and Tech
Rentals.

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