Vp (formerly known as Vibroplant) has reported a 5% growth in revenue to 拢141.0m for the year to 31 March 2011.
Pre-tax profit was down 15% to 拢12.2m.
Profit before amortisation, exceptional items and tax of 拢13.8 million (2010: 拢16.0 million)
Chairman Jeremy Pilkington said the results were 鈥渧ery satisfactory鈥� given the current trading environment and the continuing recessionary pressures felt in many of our markets鈥�.
He added: 鈥淭he group enters the new financial year with a strong balance sheet and I have every confidence that we will continue to create opportunities and deliver satisfactory business performance over both the short and longer term.
鈥淭his year has seen pressures and difficult markets faced by many parts of the group, but these results reflect the benefit of the strong market positions we hold and the resilience of our strength through diversity business model.
鈥淭he new financial year will undoubtedly present us with further challenges and surprises but it has started well, and we have every confidence that we will continue to create opportunities and deliver satisfactory business performance over both the short and longer term.
Sector review
Hire Station (tool hire)
Turnover up 7% to 拢53.5m
Operating profit before amortisation and exceptional items down 6% to 拢3.0m
Investment in rental fleet 拢10.3m (2010: 拢4.5m)
Groundforce聽聽(trench and excavation systems)
Revenue down 8% to 拢30.3m
Operating profit before amortisation and exceptional items down 27% to 拢6.7m
Investment in rental fleet 拢3.8m (2010: 拢3.5m)
UK Forks (telehandlers)
Revenue up 2% to 拢10,8m
Operating profit before amortisation and exceptional items at 拢1.1m (up from break-even last year).
Investment in rental fleet 拢4.4m (2010: 拢100,000)
Airpac Bukom (oilfield services)
Revenue up 11 to 拢17.5m
Operating profit before amortisation and exceptional items down 31% to 拢2.7m
Investment in rental fleet 拢1.3m (2010: 拢4.6m)
Torrent Trackside (rail plant)
Revenue up 41% to 拢14.9m
Operating profit before amortisation and exceptional items up from 拢200,000 last year to 拢1.6m
Investment in rental fleet 拢2.9m (2010 拢800,000)
TPA (portable roadway systems)
Revenue down 1% to 拢14.0m
Operating profit before amortisation and exceptional items down 36% to 拢1.4m
Investment in rental fleet 拢1.5m (2010: 拢500,000)
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