07.06.2011

Profits slip at Vp

UK based Vp, owner of telehandler rental company UK Forks has issued a preliminary year end results statement which show lower profits from increased revenues.

UK based Vp, owner of telehandler rental company UK Forks has issued a preliminary statement covering its full year’s results to the end of March.
Revenues climbed five percent to £141 million, while profit before amortisation, exceptional items and tax fell 14 percent to £13.8 million. Net debt was cut by reduced by 17 percent or £7.8 million to £40.5 million.

Chairman Jeremy Pilkington said: "I am delighted to report a very satisfactory set of results given the current trading environment and the continuing recessionary pressures felt in many of our markets. The group enters the new financial year with a strong balance sheet and I have every confidence that we will continue to create opportunities and deliver satisfactory business performance over both the short and longer term."