Half Year Results 

Vp weathers construction slowdown

Vp weathers construction slowdown

The dominant narrative surrounding equipment rental specialist Vp (VP.) has been the ongoing investigation being conducted by the competition and markets authority (CMA). The CMA announced in April that it was probing suspected anti-competitive behaviour in the groundworks rental market. It provisionally found that three major suppliers – including Vp’s Groundforce piling business – had “formed a cartel to reduce competition and keep prices up”. There were no further developments on this front in the first half of the 2020 financial year and as the case rolls on, the group continues to carry a £4.5m provision for any potential fine.

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