For the six months ended 30 September 2013, Vp鈥檚 revenues were up 9% to 拢91.3m (2012 H1: 拢84.0m). Profit before tax and amortisation increased 17% to 拢12.8m (2012 H1: 拢11.0m). Profit margins were up from 13.0% to 14.0%.
Within the group, Groundforce had operating profits more than 12% ahead at 拢4.6m (2012 H1: 拢4.1m) on revenues of 拢20.8m (2012 H1: 拢18.2m).聽
Profits at UK Forks were up 59% to 拢1.5m (2012 H1: 拢1.0m) on revenues up 20% at 拢8.4m (2012 H1: 拢7.0m).聽 This telehandler hire division benefited from the rise in house-building activity.聽
Hire Station, the tool hire store chain, was another strong performer, also producing a 59% rise in profits at 拢2.7m (2012 H1: 拢1.7m) on revenues up 9% at 拢31.9m (2012 H1: 拢29.3m).
Profits at Airpac Bukom fell to 拢0.7m (2012 H1: 拢1.3m) on revenues flat at 拢9.6m.
Torrent Trackside also saw its profits slip, from 拢1.7m last time to 拢1.5m, on relatively flat revenues of 拢10.6m (2012 H1: 拢10.5m).
Profits at TPA improved 7% to 拢2.7m (2012 H1: 拢2.5 million) on revenues marginally ahead at 拢9.8m (2012 H1: 拢9.5m).聽
Vp chairman Jeremy Pilkington said: 鈥淭he group has produced another excellent set of results with profits, margins, return on capital and earnings per share all strongly ahead.聽 Substantial capital investment in the rental fleet and in September demonstrates our confidence in the opportunities for growth.聽 The board believes the group is very well placed to continue to deliver further progress for the year as a whole and beyond."
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