Harrogate specialist hire firm Vp gives trading update

The trading update says this was in line with previous guidance “in a challenging macroeconomic environment.

Annual revenue is expected to be around £360million.

The firm said it has maintained operational and financial discipline and continues to progress its strategic priorities.

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Despite tough market conditions, the Group says it continues to see long-term drivers of demand across its core sectors.

Within the Infrastructure sector, Electricity transmission continues to see growth and strong demand in both the UK and Europe.

Rail activity is steady but subdued, with good visibility on future project pipelines, the update continued.

It reported positive leads in water, with higher revenues expected.

The Specialist Construction market remains supportive, particularly in London and Eire.

Housebuilding remains subdued, but with stronger prospects as Homes England’s Social and Affordable Homes Programme (SAHP) 2026-2036 commences.

The immediate impact of the Middle East conflict has been limited to higher fuel costs, largely mitigated through customer pricing.

Since her appointment in February, the company said Chief Executive Alice Woodwark has focused on enhancing operational discipline and accelerating strategic execution.

This includes boosting cross-divisional efficiency with more multi-division projects.

A sharper focus on specialist infrastructure-led markets.

And using more digital tools to improve pricing, customer service and cross-divisional working.

While market conditions remain mixed, Vp said its diversified model, financial strength and infrastructure exposure provide a solid foundation, and the Board remains confident in the Group’s positioning and future performance.

The Group’s balance sheet remains strong, supporting continued disciplined investment and value creation, with leverage remaining within stated targets.

Vp CEO Alice Woodwark said: “Vp has continued to deliver a disciplined performance and good strategic progress. Our focus on infrastructure-led markets, operational efficiency and digital delivery positions us well to navigate the near-term environment and build long term sustainable value for stakeholders.”