19.08.2008

Vp issues upbeat trading statement

UK based Vp, previously known as Vibroplant – owner of telehandler rental company, UK forks – has issued a cautious but upbeat trading statement over four months into its new financial year.

“It says: We have continued to make good progress since the Preliminary Results announcement in June 2008. Although the business environment has undoubtedly become more challenging, we have continued to benefit from the diversity of markets we serve.”

“The oil and gas, transmission, outdoor events and utilities markets in particular continue to perform well and whilst housebuilding and the rail sector have been weaker, general construction demand has remained stable driven by ongoing public sector and regulated industry investment.”

“In July we announced the acquisition of assets from Rand Group together with a three year sole supply agreement. The integration of this business is proceeding well. Overall the business has made a good start to the new financial year. Whilst we remain alert to changes in individual markets, we believe that our diversity across specialist markets is a key strength of the Group. We remain confident of delivering further progress in the current financial year.”