Vp expects to meet full year forecasts

Rental equipment specialist Vp said trading through the winter period has been satisfactory and expects to report full year profits in line with market expectations.

Rental equipment specialist Vp said trading through the winter period has been satisfactory and expects to report full year profits in line with market expectations.

The group, which provides products and services to oil and gas exploration markets, civil engineering, rail and construction, added that while there has not been a tangible improvement in overall market conditions, most sectors have remained stable.

Vp which operates six divisions: Groundforce, UK Forks, Airpac Bukom, Torrent Trackside, TPA and Hire Station, said sustained demand from regulated infrastructure markets has continued to provide a solid base for the group, in what has otherwise been soft general construction demand.

Otherwise in oil and gas, the lower levels of liquefied natural gas activity have continued into the second half as expected.

"However the board is pleased to report that we have secured a number of LNG contracts in the Asia Pacific region which will contribute in the new financial year," it said in a statement.

"Optimisation of the performance of Vp's existing specialist activities remains the board's priority and the group continues to invest in support of secured opportunities as they arise."

CJ

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Bitcoin: fool’s gold or the new gold?
Bitcoin

Bitcoin: fool’s gold or the new gold?

With bitcoin hitting new highs last week, and close to becoming a mainstream investment, is it really gold for the 21st century?
15 Jan 2021
The MoneyWeek Podcast: bitcoin special
Bitcoin

The MoneyWeek Podcast: bitcoin special

Merryn talks to bitcoin experts Dominic Frisby and Charlie Morris to get the lowdown on the cryptocurrency to find out why it's such a huge global phe…
15 Jan 2021
Leasehold reforms promise the end of a nightmare for many homeowners
Property

Leasehold reforms promise the end of a nightmare for many homeowners

Horror stories about unscrupulous landlords profiting from a legal relic of the feudal era are about to get a happy ending, says Simon Wilson.
16 Jan 2021
Free 6 issue trial then continue to