26th Nov 2024 14:53
Vp PLC - Harrogate, England-based equipment rental - Sets up Vp Rail as an integrated solution for rail customers that draws up rail capabilities across Vp divisions. The new offering will be led by Carl Abraitis as director of Vp Rail. The announcement comes as Vp says pretax profit is GBP19.5 million in the six months that ended September 30, down 2.0% from GBP19.9 million a year before. Revenue is up 0.8% to GBP192.5 million from GBP190.9 million, but administrative expenses rise by 13%. Vp keeps its interim dividend unchanged at 11.5 pence per share, noting this continues more than 30 straight years of dividend payments.
Vp says it expects results for all of financial 2025 to be in line with market expectations. It says the increases to employer national insurance contributions and the higher national minimum wage that were announced in the UK government budget last month will add about GBP4 million in extra costs to financial 2026.
Current stock price: 589.40 pence, up 3.4% in London on Tuesday afternoon
12-month change: down 5.7%
By Tom Waite, Alliance News editor
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