04.12.2006

VP up 29%

VP (Vibroplant) the parent company of UK Forks one of the UK’s leading telehandler rental companies and Hire station the tool hire business, has announced its first half results to the end of September.

Revenues increased by 29 percent compared to 2005 to £61.3 million. Operating income jumped by 56 percent to £8.77 while profits before tax climbed by 42 percent to £7.8 million.

Jeremy Pilkington, chairman of VP said:
“These excellent interim results endorse our growth plan for the Group and maintain our record of consistent performance.

Organic capital investment has been strong across all areas of our business, but in particular the results reflect the successful integration and further development of last year’s acquisitions and the continuing recovery in profitability at Hire Station.

Over 30% of the profit increase in the period came from organic growth.