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VP starting to recover from Covid blow

The equipment rental specialist saw revenue drop to 55 per cent of normal levels in March
VP starting to recover from Covid blow

With Brexit anxiety weighing on the construction industry, followed by general election uncertainty and the arrival of Covid-19, VP (VP.) saw its revenue fall 5 per cent in the 12 months to 31 March. But the equipment rental specialist kept a tight lid on costs. As such, a 0.8 percentage point expansion in the margin to 14.3 per cent meant like-for-like adjusted operating profit held steady at £51.9m.

IC TIP: Hold at 751p

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