For the year ended 31 March 2014, group revenues increased 10% to 拢183.1m (2013: 拢167.0m) and profit before tax and amortisation was up by 16% to 拢20.1m (2013: 拢17.4m).
Whilst there was a small contribution from the mid-year Mr Cropper acquisition, the bulk of the increase was organic, with all operating divisions progressing during the year.
Chairman Jeremy Pilkington said: "It has been another highly successful year for the Group with significant progress in revenue, profits, earnings per share and dividends.
鈥淓conomic indicators in the UK and mainland Europe now appear more positive than for some time and all businesses within the Group are identifying significant opportunities for growth and investment.
鈥淲e believe that our established financial discipline combined with the active pursuit of growth opportunities will continue to deliver quality returns for shareholders. We look forward to the year ahead with confidence."
Return on average capital employed, a key performance indicator at Vp, reached 13.5% (2013: 13.3%) and has now been above the target threshold of 12% in each of the last 10 years, even throughout the worst periods of the recent recession.
Every operating division saw some kind of improvement.
Groundforce profits were 拢7.9m (2013: 拢7.8m) from revenues up 14% to 拢42.3m.
The UK Forks division saw profits grow 19% to 拢2.5 (2013: 拢2.1m). Revenue was 聽 拢16.3m (2013: 拢14.1m).
Airpac Bukom revenues grew 16% to 拢20.2m although profits were flat at 拢2.0m.
Torrent Trackside reported 4% revenue growth to 拢22.3m and profits of 拢2.8m (2013: 拢2.2m).
The TPA business increased revenues by 6% to 拢15.8m and operating profits by 36% from 拢1.3m to 拢1.8m.
Hire Station has a particularly good second half and reported revenues up 7% to 拢66.2m. Profits here were up 11% to 拢4.8m for the year.
Group managing director Neil Stothard said: 鈥淏uilding on another good year for the group, we expect further positive development both in the UK market place but also in our smaller but growing overseas activities.
鈥淭he overall scenario for the markets we support remains positive, with further improvement anticipated in general construction and oil and gas, tempered by potential temporary, but modest slowdown in sectors which have been buoyant in recent times such as water and transmission.
鈥淐onsistency of quality in products, services and people is increasingly valued by customers who rightly expect a top level service delivery.聽 As markets recover, we believe that these factors will further enhance the attractiveness of our specialist service offering.
鈥淲e enter the new financial year with excellent business momentum from a strong final quarter and this gives us confidence that Vp remains in a good position to deliver further progress for shareholders in the coming year.鈥�
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