Vp sees profits dip

EQUIPMENT hire group Vp today said it had achieved “very satisfactory results”, despite suffering a dip in full year profits.
By The Newsroom
Published 7th Jun 2011, 10:01 BST

In the year ended March 31, 2011, the company’s revenues increased by five per cent to £141m.

Profit before amortisation, exceptional items and tax was £13.8m, which is less than the £16m recorded last year.

Net debt reduced by £7.8m to £40.5m.

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Vp said that the year just ended had seen little overall improvement in trading conditions, but

against this difficult background, the group delivered another solid profit performance.

Jeremy Pilkington, the chairman of Harrogate-based Vp, said: “I am delighted to report a very satisfactory set of results given the current

trading environment and the continuing recessionary pressures felt in many of our markets. The group enters the new financial year with a strong balance sheet and I have every confidence that we will continue to create opportunities and deliver satisfactory business performance over both the short and longer term.”

Mr Pilkington said the new financial year would undoubtedly present VP with further challenges and surprises, but it had started well.

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