The Harrogate-based company, which put itself up for sale just over a month ago, said its latest results “represent significant progress” as Vp continued to recover from Covid related impacts.

Vp saw its revenues increase 14 per cent from £308m in 2021 to £350.9m this year. While profit before tax, amortisation and exceptional items was up 67 per cent from £23.3m to £38.9m.

Speaking to The Yorkshire Post, Neil Stothard, chief executive of Vp, said he was “very pleased” with the “excellent performance”.

He added: “It’s a performance that we’re very happy with given at the start of that financial year it was a very uncertain world in terms of the pandemic etc.”

But Mr Stothard said that Covid was “very much moving to the rear view mirror now” with its international division opening up.

However, there is still a lot of economic uncertainty with inflationary pressures, supply chain delays and the fallout from the war in Ukraine creating a challenging environment for businesses.

“It’s something that we’re very aware of but we believe we’re managing the impact of those elements very well in the business,” Mr Stothard said.

The business has enjoyed a good start to the current financial year having entered it with good momentum.

Mr Stothard said: “It’s been a good start at relatively similar levels to the finish of the last financial year.

“We entered the new year with good momentum. There has been relatively little change in markets.

Vp said that it was business as usual despite starting a formal sale process in April with the business fully focused on delivering on its plans for the current financial year.

The business, which has over 2,800 employees, proposed a final dividend of 25.5p per share, making a total for the year of 36p.

How Harrogate equipment hire firm Vp saw its profits increase 67 per cent to £38.9m