Aided by the November 2017 acquisition of the Brandon Hire tool shop chain, Vp鈥檚 interim results for the six months to 30th September 2018 show profit before tax and amortisation up 22% to 拢25.9m (2018 H1: 拢21.2m) and revenues up 42% to 拢193.2m (2018 H1: 拢136.0m).
Pre-tax profit for the half-year was 拢23.9m, up from 拢20.3m the previous year.
Capital investment in fleet rose to 拢36.7m (2018 H1: 拢32.5m).聽 Borrowings at 30th September 2018 stood at 拢188.2m (31st March 2018: 拢179.2m).聽 EBITDA increased to 拢51.6m, compared to 拢41.1m for the same period last year.
Jeremy Pilkington, who has been chairman of the company since 1981 when he was just 30, said: 鈥淭he group has produced yet another excellent set of results with revenues, profits and earnings per share all significantly ahead.聽 Both our UK and International divisions have performed strongly with most of our business units busy supporting stable end markets.聽 In the UK division, whilst Brexit continues to be a distraction, day to day activity seems to be continuing largely unaffected.
鈥淲ith the benefit of a strong first half, which includes an in line contribution from Brandon Hire, we look forward to the remainder of the year, and beyond, with every confidence."
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