Vp PLC on Tuesday said it performed ‘broadly’ in line with market expectations, despite a challenging market backdrop.
Shares in the Harrogate, England-based equipment rental company were down 2.7% to 550.00 pence each in London on Tuesday afternoon.
Vp said that it expects to deliver results ‘broadly’ in line with market expectations for the financial year ended March 31.
It explained that this has been achieved ‘despite a mixed market backdrop.’
In noted that ‘infrastructure has been particularly supportive with continued strong demand from the rail, transmission and water sectors.’
Yet, general construction ‘remains challenging.’
‘An operational review of this division is well advanced and the new management team is focused on actions to drive margin improvements alongside medium term strategic objectives,’ Vp added.
Chief Executive Anna Bielby said: ‘Despite challenging market conditions, the quality of our diverse offering positions us well to continue to deliver sector-leading returns. With refreshed senior management and a strong financial base, we have a robust platform to take advantage of growth opportunities in the market and as such, we are confident in the long term prospects of the group.’
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