Member Article

Harrogate rentals firm Vp post pretax profit increases after successful year

Harrogate-based rentals firm Vp plc has posted results of a successful year so far after acquiring Balfour Beatty Rail Ltd.

The firm, which rents equipment largely for the rail and transport industries, reported revenue of £101 million compared to £91.2 million in the same six months to September 30 last year.

Profit before tax increased to £15 million from £12 million.

Capital investment in the firms rental fleet was 30% higher than the prior year at £23.9 million as we invested to support strengthening demand.

In July 2014, Vp completed the acquisition of the trackside plant and equipment rental business of Balfour Beatty Rail Limited for a consideration of £5.5 million, which has been successfully integrated into Torrent Trackside.

Jeremy Pilkington, chairman of Vp plc, said: “The Board regards these half year figures as an outstanding set of results and this positive start to the new financial year reflects the continuation of the improving trading conditions which the Group enjoyed towards the end of last year.

“The trading trajectory into the second half of the current financial year provides us with every confidence that the Group can deliver a very satisfactory result for the year as a whole.”

This was posted in Bdaily's Members' News section by Clare Burnett .