Vp鈥檚 interim results for the six months ended 30th September 2016 show 9% growth in profit before amortisation and tax to 拢18.7m (2015/16 H1: 拢17.2m) on revenues 16% higher at 拢121.7m (2015/16 H1: 拢105.1m).聽
鈥淭his performance reflects strong underlying organic growth in most of our businesses, plus contributions from the acquisitions of Higher Access and TR Group in March and April 2016 respectively鈥�, said chairman Jeremy Pilkington, who has now headed the company for 35 years.
Vp is the parent company of Groundforce, Hire Station, UK Forks, Torrent Trackside and other specialist construction equipment operations.
Capital investment in new equipment for hire during the six months rose to 拢29.9m (2015/16 H1: 拢23.4m).聽 Borrowings at the period end stood at 拢107.5m, up from 拢86.1m in March after funding investment and acquisitions totalling 拢42.5m.聽
Chairman Jeremy Pilkington said: "Strong organic growth plus the successful integration of two acquisitions has delivered this excellent set of results.聽 Increased capital investment into market opportunities gives us confidence that we will be able to deliver results ahead of market expectations for the year as a whole."
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