REG - Vp PLC - AGM Statement

VPAnnouncement

20/07/2023 07:00

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RNS Number : 5827G  Vp PLC  20 July 2023

   20 July 2023

 

Vp plc

('Vp' or the 'Group')

 

AGM Statement

 

Vp plc, the equipment rental specialist, will hold its Annual General Meeting
('AGM') at 10.00 am today.  At the AGM, Jeremy Pilkington, Chairman of Vp,
will make the following statement:

 

"In the UK we have experienced varying levels of demand across the range of
markets which we serve.  The infrastructure sector, including water,
transmission and rail in particular, has remained supportive and we continue
to work with our customers on delivery of the longer term regulatory driven
capital investment programmes.  As we highlighted in our final results issued
on 7 June 2023, we have seen a slowdown in housebuilding where demand has
reduced by circa 10% compared with 2022 and has stabilised at this level into
our new financial year.  The non-residential construction markets remain
subdued.  Our International businesses continue to make encouraging progress
with a good start to the new financial year.

 

"We remain focused on the quality of our equipment and excellent service
delivery to our customers with an ongoing drive to deliver sustainable
solutions to our customer base.

 

"The Group remains in a strong financial position with an excellent track
record of delivery. Despite both market headwinds and increases in interest
rates, we continue to see opportunities and expect performance for the current
financial year to be in line with Board expectations."

 

- Ends -

 

For further information:

 Vp plc                                Tel: +44 (0) 1423 533 400
 Jeremy Pilkington, Chairman           www.vpplc.com (http://www.vpplc.com)
 Neil Stothard, Chief Executive
 Anna Bielby, Chief Financial Officer

 

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

 

 

Notes to Editors

 

Vp plc is a specialist rental business providing products and services to a
diverse range of markets including infrastructure, construction, housebuilding
and energy markets, both in the UK and overseas.

 

The Group comprises a UK and an International division:

 

UK

 

Groundforce

A market leading rental and design provider of excavation support systems and
specialist products to the water, civil engineering and construction
industries with operations in the UK, the Republic of Ireland and mainland
Europe.

 

Brandon Hire Station

The leading provider of tools and specialist rental products to industry,
construction and home owners across the UK.

 

ESS

The leading specialist provider of safety, survey, communications and test
& measurement equipment rental in the UK.

 

MEP Hire

The UK's largest provider of mechanical and electrical press fittings and low
level access platforms to the construction, fit out, mechanical and electrical
markets.

 

Torrent Trackside

Specialist suppliers of rail infrastructure portable plant and related
trackside services to Network Rail, London Underground and their appointed
track renewal, maintenance and project contractors.

 

TPA

One of Europe's largest suppliers of temporary access solutions.  Operating
from bases in the UK and Germany, TPA provides portable roadways and temporary
access solutions to customers in the transmission, construction, rail and
outdoor events markets.

 

UK Forks

One of the UK's leading specialist hirers of telescopic handlers. The products
and services are utilised by its customers to improve safety and productivity
on construction and housebuilding sites across the UK.

 

International

 

Airpac Rentals

An international business supporting a wide range of oil and gas markets,
servicing well test, pipeline testing, rig maintenance and LNG markets
worldwide.

 

TR Group

Australasia's leading technical equipment rental group providing test and
measurement, communications, calibration and audio visual solutions in
Australia, New Zealand and South East Asia.

 

Further information is available at www.vpplc.com/investors
(http://www.vpplc.com/investors)

 

 

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