Business
Preliminary Results (unaudited)
Preliminary Results (unaudited).
About this update from Vp Plc
[{"type":"text","content":"\n \nRNS Number : 0040B Vp PLC 04 June 2019 \n\n \n\n\n\n\nFor immediate release \n\n\n4 June 2019\n\n\n\n\n \nVp plc\n \n('Vp', the 'Group' or the 'Company')\n \nPreliminary Results (unaudited)\n \nVp plc, the equipment rental specialist, today announces its Preliminary Results for the year ended 31 March 2019.\n \nHighlights\n\n\n\n\n· 15% increase in profit before tax, amortisation and exceptional items to record level of £46.8 million (2018: £40.6 million)\n· 26% growth in revenues to £382.8 million (2018: £303.6 million)\n· Basic earnings per share, pre-amortisation, increased 12% to 95.1 pence (2018: 84.9 pence)\n· Final dividend proposed of 22.0 pence per share, making a total of 30.2 pence for the full year (2018: 26.0 pence), an increase of 16%\n· EBITDA before exceptionals up 20% to £101.4 million (2018: £84.3 million)\n· Reduced net debt of £168.1 million (2018: £179.2 million) after funding:\no Capital investment in the rental fleet of £63.8 million (2018: £64.9 million)\n· Return on average capital employed 14.5% (2018: 14.8%)\n· Profit before taxation of £33.6 million (2018: £30.8 million) and statutory earnings per share of 65.2 pence (2018: 61.7 pence)\n· Exceptional costs of £8.6 million (2018: £1.7 million) resulting from acquisition integration costs, business restructuring and regulatory review costs\n· The statutory accounts for the year ended 31 March 2019 will be finalised on the basis of the financial information presented by the Directors in these preliminary results.\n\n\n\n\n \nCommenting on the Preliminary Results, Jeremy Pilkington, Chairman of Vp plc, said:\n\"Today Vp is reporting another strong set of full year results, with key financial metrics ahead of last year. In light of these excellent figures, I am pleased to announce a final dividend recommendation of 22.0 pence per share, making a total for the year of 30.2 pence per share, an increase of 16% on last year.\n \n\"We have entered the new financial year in excellent shape and we look forward to the challenges and opportunities of the future with confidence and excitement.\"\n \n \nNei...