VP PLC (VP.) — Full Year Results

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen, and welcome to the VP PLC Full Year Results Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged. They can be submitted at any time just using the Q and A tab situated on the right hand corner of your screen. Just simply type in your questions at any time and press send. The company may not be in a position to answer every question received during the meeting itself. However, the company can review your questions submitted today, we'll publish those responses where it's appropriate to do so. Before we begin, we'd like to submit the following poll. And if you could give that your kind attention, I'm sure the company most grateful. And I'd now like to hand over to CEO, Neil Stothard. Good morning. Thank you, Mark. Good afternoon, everybody. I'm Neil Stothard, the CEO of VP PLC. And I'm pleased to introduce my colleague, Anna Bealby, who is the CFO. So results for the year ended 03/31/2023. The first slide we're going to put up just shows the headline numbers, which Anna will talk to in detail very shortly. The one point I'd make is that we see this as very much as a resilient trading performance in challenging markets. In terms of highlights, first one to flag is earnings quality. We're very pleased that we've delivered some revenue and profit growth, but maintain the quality of the earnings that the group has delivered with our key measure of return on average capital employed still at a quality figure of 14.4%. We've delivered revenue growth in the year of 6%. In truth, the majority of that has come from higher rate price increases rather than through volume of demand. Our markets, the infrastructure and civil engineering markets in particular have been posi...