Vp reported adjusted profit of £27m for the year ended 31 March, compared with the year ended 31 March 2025.
The specialist equipment rental group said international segment revenues rose 14% and profits increased 30% year on year, it invested £51.6m in its rental fleet and ended the year with leverage below its stated 2x target.
"We delivered a resilient performance against a tough macro-economic environment, while also completing our restructuring programme at Brandon Hire Station on time and as planned," Alice Woodwark, Chief Executive Officer, said.
The Brandon Hire Station restructure incurred a £25m exceptional P&L charge, with £10.5m of cash outflows in the period, a further £10.6m of cash outflows expected in future years (total cash outflows £21.1m), and reduced the branch network from 119 to 41, headcount by circa 400 and rental fleet net book value by approximately 40%.
Vp said trading in the new financial year is expected to be in line with market expectations and cited its compiled analyst consensus for 2026/27 of revenue £352.1m, adjusted profit £33.1m and pre‑IFRS 16 net debt £150.8m.