LONDON (ShareCast) - (Sharecast News) - Equipment rental specialist Vp issued its interim results for the six months ended 30 September on Tuesday, reporting a 22% improvement year-on-year in profit before tax and amortisation to £25.9m.
The London-listed firm said revenues rose 42% to £193.2m, while earnings per share pre-amortisation increased 18% to 52.3p.

Its board declared a 21% increase in the interim dividend to 8.2p per share.

Vp said its return on average capital employed was 14.5%, down from 16.0% at the same time last year, while EBITDA rose 25% to £51.6m.

Capital investment in its rental fleet was ahead 13% at £36.7m, with the company's statutory profit before tax rising to £23.9m from £20.3m, and statutory earnings per share increasing to 48.3p from 42.5p.

"The group has produced yet another excellent set of results with revenues, profits and earnings per share all significantly ahead," said chairman Jeremy Pilkington.

"Both our UK and international divisions have performed strongly with most of our business units busy supporting stable end markets."

Pilkington said that in the UK division, while Brexit continued to be "a distraction", day-to-day activity seemed to be continuing largely unaffected.

"With the benefit of a strong first half, which includes an in line contribution from Brandon Hire, we look forward to the remainder of the year, and beyond, with every confidence."

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