Earnings release
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RNS Number : 5058SVp PLC11 February 2026 11 February 2026 Vp plc('Vp', or the 'Group') Trading Update Challenging macro-economic backdrop drives reset of expectations Vp plc, the specialist equipment rental business, today provides a trading update for the ten months ended 31January 2026. The Board remains confident that the Group, aided by its robust balance sheet and transformation of BrandonHire Station, and underpinned by a focused strategy targeted at core sectors, is well positioned to takeadvantage of future market opportunities. However, current market headwinds, particularly in construction andwater, where we have seen a slower than expected impact from AMP8, have resulted in a disappointingly mutedJanuary 'return to work' and a correspondingly slow fourth quarter ramp-up in activity volumes. Therefore Vpnow expects to report a profit* for the current financial year within the range of £26-29m. Across the sectors in which we operate, we continue to see growth and strong demand in energy transmission,whilst rail activity remains steady yet subdued. We remain positive about prospects in water and confident inour ability to take advantage of the significant increase in expenditure to come in AMP8. However, while wehave seen an uptick in design and planning work, we now expect to see meaningful increases in water revenuesin FY27 rather than the current financial year. General construction remains subdued, with follow-onimplications for activity levels across several Vp businesses. In the Group's smaller end markets, performance in housebuilding has benefitted from operating modelchanges made in the last financial year but overall activity levels remain subdued. Energy continues to beimpacted by macroeconomic factors with increased project activity expected in FY27.Against this backdrop Vp continues to deliver on its strategy, including the continued implementation of ourdigital roadmap alongside further harmonisation of systems and business processes, all of which will drivefurther opportunities for the Group. At Brandon Hire Station, which operates in the general construction market, good progress has been madedelivering the transformational activities announced in November, which will result in a smaller, more focusedand profitable business. These actions include a reduction in the branch footprint from over 100 to 41 and aheadcount reduction of c.400. We remain on track to materially complete the transformation programme atBrandon by 31 March. Alice Woodwark, Chief Executive of Vp, said: "Vp remains committed to its strategy of offering a diversified range of specialist equipment and expertise toclients across a portfolio of critical market sectors. While this diversity and breadth gives our business market-leading resilience and opportunity, it is not immune to general trading conditions in construction and delays tomajor infrastructure programme spend in key sectors. Our progress in transforming Brandon, which is on trackfor completion within the financial year, and our commitment to a strategy of growth and operationalexcellence position us well to take advantage of future opportunities across our markets." - Ends - *Profit before tax, amortisation and impairment of goodwill, trade names and customer relationships andexceptional items. The information contained within this announcement is deemed by Vp to constitute inside information as stipulatedunder the Market Abuse Regulation (EU) no. 596/2014 (as it forms part of UK domestic law by virtue of theEuropean Union (Withdrawal) Act 2018). On the publication of this announcement via a Regulatory InformationService, this inside information is now considered to be in the public domain. For further information: Vp plc Alice Woodwark, Chief Executive Tel: +44 (0) 1423 533 400 Keith Winstanley, Chief Financial Officer www.vpplc.com Media enquiries:
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Sodali & Co Justin Griffiths/Nick Johnson/Amy Gibson Tel: +44 (0) 2071 006 451 vp@client.sodali.com Notes to EditorsVp plc is a specialist equipment rental business providing equipment, people, services and support for specialistprojects. It focuses on niche sectors principally in the Infrastructure, Construction, Housebuilding and Energymarkets in the UK and overseas. Businesses include: Groundforce, TPA, Torrent Trackside, Brandon Hire Station,ESS, MEP Hire, CPH, UK Forks, Airpac Rentals and Tech Rentals. Vp Rail is the Group's integrated rail solutionproviding customers with direct access to all of Vp's rail specialisms through a central team. Our approach to environmental and social impact is guided by our core values and responsible businessframework, for more information go to: www.vpplc.com/esg-and-governance/ This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authorityto act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this informationmay apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the informationcontained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. Forfurther information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END