Vp Plc (LSE:VP) said on Monday it remains on course to meet market expectations for the year ending 31 March 2027, with the second half of the year expected to outperform the equivalent period a year earlier.
The specialist equipment rental business, whose end markets span electricity transmission, rail and water infrastructure, said electricity transmission continued to perform well while rail remained stable. Water-related activity gained momentum in the second quarter as work under the AMP8 regulatory investment cycle grew, and the International segment continued to perform well.
Vp's Brandon Hire Station division, which underwent a restructuring last year, has improved despite ongoing challenges in the general construction market, though the company said some exceptional costs tied to that restructuring have been recognised in the current financial year.
"The first half of the financial year has again demonstrated the strength and resilience of our diverse business model," said Alice Woodwark, chief executive of Vp, adding that momentum in the UK segment increases second-half confidence, particularly in water and electricity transmission.
The analyst consensus Vp compiled for the 2026/27 year points to revenue of £351.3m, profit before tax, amortisation, goodwill impairment and exceptional items of £32.5m, and pre-IFRS 16 net debt of £154.4m.
Vp will publish its interim results for the period ended 30 September on Wednesday 25 November.