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In the year to 31st March 2025, Vp increased group revenue by 3% to £380.0m (2024: £368.7m), with adjusted profit decreasing by 8% to £36.7m (2024: £39.9m).

However, statutory profit before tax soared from £2.8m to £21.7m.

Exceptional items of £10.9m included £3.8m of restructuring costs (primarily related to UK Forks and Brandon Hire Station) and £5.4m of impairment charges.

Highlights of the year included the £10m acquisition of Charleville Hire & Platform (CPH) in October 2024, increasing Vp’s presence in the Republic of Ireland, and the launch of Vp Rail, offering rail sector customers a single point of access to the various operating businesses within Vp.

The Vp group includes Groundforce, TPA, Torrent Trackside, Brandon Hire Station, ESS, MEP Hire, UK Forks, Airpac Rentals, Tech Rentals and now CPH.

Following on from the launch of Vp Rail last year, this year will see the launch of Vp Rental Solutions, offering central account management for strategic customers.

Chief executive Anna Bielby said: “Organically, as well as investing in capex, opportunity exists for the group’s specialist divisions to work better together to provide cohesive solutions for customers.”

Summarising the year’s performance, Anna Bielby said: “We have delivered a resilient performance against a period of varied economic and geopolitical headwinds, with our diverse and increasingly collaborative specialist businesses driving sector leading returns. As a result of this performance and our robust balance sheet, we are pleased to propose an improved full year dividend – maintaining our 30+ year uninterrupted track record and aligning with our commitment to deliver long-term sustainable shareholder returns.

“During the year, we continued to make changes to our operating model to capitalise on growth opportunities, including the centralisation of operations and the launch of Vp Rail.

“Vp has entered the new financial year in a solid position, with strong early momentum in Infrastructure and specialist construction. While we are encouraged by the UK government’s revitalisation initiatives in house-building, construction and infrastructure projects, it is important that we get clarity and certainty around these from the timely publication of its long-term industrial strategy.”

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