Ahead of its half-year results, to be published at the end of November, Vp said that it was trading well and performing in line with the boards' expectations.聽
It said that revenues were running at 96% of pre-Covid levels and the business was 鈥渕aking excellent progress despite some market sectors not yet being back to historic levels of demand鈥�.
Vp group business include UK Forks, Groundforce, Brandon Hire Station and Torrent Trackside.
The trading update said: 鈥淚n the UK division demand from our core markets of infrastructure, housebuilding and construction has remained supportive.聽 Certain areas of major infrastructure investment such as HS2 have been very busy for the group, with other key elements, such as the rail sector (CP6) and water (AMP7) expected to accelerate in H2.
鈥淕eneral construction has been satisfactory with repair and maintenance work remaining good, but the sector is to a degree impacted by materials and labour resource constraints and the pace of growth will be partially dependent on these issues being resolved.聽 Residential construction remains supportive and we are seeing good demand in this segment.
鈥淭he international division has also experienced a tangible recovery in trading in the new financial year despite the distraction of extended lockdowns in some parts of Australia, New Zealand and Malaysia.鈥�
It concluded: 鈥淪upported by the group's strong financial position, our businesses are in excellent shape to capitalise on further opportunities both in the UK and international markets.鈥�
Got a story? Email news@theconstructionindex.co.uk
