27.11.2025

Softer numbers from Vp

UK rental group Vp - owner of telehandler rental company UK Forks, low level access specialist MEP and Brandon Hire Station - has published its half year results for the six months to the end of September.

Total revenues were £188.4 million, down two percent up on the same period last year. This was made up as follows:

UK
Revenues: £152.4 million – 6.5%
Operating profit: £15.5 million – 28%.

International
Revenues: £35.9 million +21%
Operating profit: £6.7 million +5%

Pre-tax profit plummeted 44 percent to £11 million,

Capital Expenditure
Capital expenditure totalled £43.3 million, an increase of 4.6 percent, while disposals were two percent lower £7.97 million.

Net Debt
Net debt was increased 11 percent to £152.4 million.

Chief executive Anna Bielby said: “Vp’s diversified and resilient businesses have delivered a good result against a challenging and uncertain market backdrop. Our continued investment in attractive markets such as Ireland and Germany – enabled through our robust balance sheet – continues to yield strong returns, with improvements in our operating model bringing more opportunities to the group.”

“The decisive actions to reposition Brandon Hire Station further progresses the group’s strategy, ensuring greater focus on higher returns, specialist assets and markets. Whilst we expect market conditions to remain difficult in the second half of the year, performance is currently expected to be in line with market expectations.”

Vertikal Comment

This is a bit of a ‘ho hum’ result from Vp, however the company remains strong and it is good to see its international business gaining some real traction, help by the acquisition of CPH in Ireland last October. The company is placing the blame for the challenges in its UK business on Brandon Hire, where it says the steps it has taken will help improve the situation.

The core of the business including telehandler specialist UK Forks performed better, but the company needs to raise its game if it is to regain the sort of growth levels it was previously known for.

Perhaps the new chief executive, when found, will ramp things up a little?