18.08.2009

Vp cautious but upbeat

Vp the owner of UK based telehandler rental company UK Forks, has issued a confident trading statement four months into its current fiscal year.

It says that “As anticipated, the trading environment remains
challenging and recovery slow.”

It adds that while demand in general contracting has softened as projects have been cancelled or deferred, some stability has returned to the house building sector. Conversely the UK infrastructure and utility markets continue to provide good opportunities along with the oil and gas sector”.

It does add though that it has further reduced capital expenditure and is reducing debt, in spite of the fact that it has a very strong balance sheet and low leverage.

Finally it concludes: “We believe that, subject to no further
deterioration in our markets, we remain in position to deliver
another satisfactory result in the current financial year.”