10.10.2025

Vp trading update

UK rental group Vp - owner of UK Forks, MEP and Brandon Hire Station - has issued a trading update for the six months to the end of September.

The statement is as follows:

“The group has delivered a solid first half performance in challenging macro-economic conditions. Areas of particular strength in the period include activities in Germany and Ireland where the group continues to take advantage of supportive market conditions.

Conditions have been varied across Vp’s end markets.
In Infrastructure:
• Activity levels in Transmission remain strong, particularly in Germany.
• Prospects in Water remain extremely positive.
• Activity levels in Rail remain subdued due to the continued slow start to Network Rail’s CP7. The Group remains in a strong position to take advantage of planned investment in Rail over the medium term.

In Construction:
• Performance continues to be strong in specialist construction, however the general construction market remains challenging.
• The group’s recovery plan for Brandon Hire Station is progressing well and remains on course to materially complete by the end of the financial year. Further details will be provided at Vp’s interim results in November.

In the group’s smaller end markets, performance in housebuilding has benefitted from operating model changes made in the last financial year. Energy activity levels are satisfactory, with projects expected to be weighted towards the second half of the year.

The board continues to anticipate performance for the year ending 31 March 2026 being in line with market expectations with revenue and profit expected to be modestly weighted towards the second half of the financial year.
Vp is continuing to progress its strategy, which is underpinned by the group’s digital roadmap and includes simplifying operations and improving the customer experience.”

Chief executive Anna Bielby added: “Despite challenges in some of our end markets, the first half of the financial year has again demonstrated the strength and resilience of our diverse business model.”

“We remain optimistic about the second half of the financial year and expect to see increased activity levels across areas such as Rail and Water as long-term investment programmes gain traction, with Infrastructure, in particular, being further supported by the UK Government's revitalisation initiatives.”

“With a clear strategy, a robust balance sheet and a growing pipeline of opportunities, we are well positioned to continue to deliver sustainable shareholder value.”