||EPS - Basic
||Market Cap (m)
VP Plc Share Discussion Threads
Showing 826 to 847 of 850 messages
|Kirkie...you have seen the Results RNS haven't you?|
|Unlike this company's share price to get so excited!
I can't believe it's down to paid for "research" published by Equity Development - is there some other reason?|
|New research out today from Equity development.
|Jeremy Pilkington has 50.33% of shares , whatever he decides to do the rest of us will be carried along with. My guess is this 60 yr old company will be under family control still in another 60 years.|
|Not me. I'm holding VP and I think it highly unlikely it will be taken over.|
|Any other holders here think TVH could turn their attentions onto VP if they fail to secure LVD? It's a better quality business that LVD with much better operating margins|
|New research out from Equity Development
|If you would like to hear Neil Stothard,Chief Executive, provide an update on Vp he will be presenting at our next investor forum on the evening of Wednesday 28th of September. Also appearing will be the management of Benchmark Holdings and Venture Life Group.
To learn more about the forum and to register for free please follow this link: https://www.eventbrite.co.uk/e/equity-development-investor-forum-september-2016-tickets-27428572599
The Equity Development team|
|New research out this morning from Equity development
"Vp plc, the equipment rental specialist, announces that at the Group's Annual General Meeting held earlier today, all resolutions put to Shareholders by the Board were duly passed.
Speaking at the Annual General Meeting, Jeremy Pilkington, Chairman, commented:
"I am pleased to report that the Group has experienced a positive start to the financial year.
In the UK, the key markets are generally performing well, with construction and housebuilding in particular generating good demand.
The International business is enjoying new contributions from the TR Group, which we acquired in April 2016, though as anticipated, the global oil and gas market continues to be challenging.
The business performance year to date is encouraging and we have not seen any impact to trading post the recent Brexit decision.
We anticipate making further good progress this year."
- Ends -"|
|From Speedy Hire update today - It is too early to assess with any degree of certainty what impact the EU referendum result will have on the Group's end markets but, to date, there has been no deterioration in trading.
VP currently 15% off share price day before referendum.|
|New research out from Equity Development
|thats more like it...|
|solid performance again, going unnoticed as usual|
|Great set of numbers as usual - consistent overall performance demonstrating resilience even when some businesses are in difficult markets - Hire Station stand out performer and probably the best small tool operator in the market - nice to see further dividend progression|
· 11% improvement in profit before tax and amortisation to £29.8 million (2015: £26.8 million)
· 2% increase in revenues to £208.7 million (2015: £205.6 million)
· 14% increase in basic earnings per share, pre-amortisation, to 62.21 pence
· Return on average capital employed increased to 16.3% (2015: 16.2%)
· EBITDA up 10% to £59.3 million (2015: £53.8 million)
· Net debt of £86.1 million (2015: £66.8 million) after funding:
o Capital investment in the fleet of £45.9 million
o Acquisitions of Test & Measurement and Higher Access for £8.1 million
· Final dividend proposed of 13.5 pence per share, making a total of 18.85 pence for the full year (2015: 16.5 pence), an increase of 14%
Jeremy Pilkington, Chairman of Vp plc, commented:
"Following last year's record breaking results, the Group has continued to make further good progress this year reporting another strong financial performance with improvements in profits, margins and returns, delivered from a relatively modest growth in revenues. This trend is expected to continue as the varying demands of supportive infrastructure, housebuilding and construction markets play against a challenged oil and gas sector."|
|Ta, Brummy_git. :-)
Although there are no firm synergies from the deal ...
I'd guess they're going to put TR in the Airpack Bukom division. That would add a Melbourne address to their existing Perth one. So, AirPack Bukom will be much closer to the oil and gas facilities in the Tasman Sea = potentially more sales. Also, TR's equipment could be rented on the west coast, so getting access to a bigger market.
They do well with their add-ons. This looks like another good move.|
|New research out today from Equity development with regards to the TR acquisition
|IC tip today;
"Share price performance among rental companies has been uninspiring over the past year. Valuations for small caps such as Speedy Hire (SDY) and HSS Hire (HSS) have slumped alarmingly, and even FTSE 350 constituent Ashtead (AHT) hasn't escaped the general markdown. However, the share price of Vp (VP.) has flatlined over the past 12-months. That implies resilience in the face of deteriorating markets, which is also borne out by the share price beta of just 0.1 (see table), and a narrow trading band through much of the year. However, Vp's shares aren't just a safety play - we also view them as a potentially lucrative recovery buy.
Vp's contract mix does, indeed, include defensive strands through exposure to the UK water industry's capital spending and railways maintenance work. But that doesn't necessarily mean Vp's shares will underperform once investors regain their appetite for risk taking. That's because Vp, like all equipment-rental operators, has lots of operational gearing - as demand for its equipment rises and revenues respond, its costs stay little changed."
Vp is also likely to be a beneficiary of end-market recovery in the UK due to its efficient operating structure and proactive management. Its record of never cutting a dividend is an obvious draw for investors. However, there is also an implied upside of around one-third from the current share price of 685p if Vp's rating relative to its peer group - as measured by the price-earnings ratio on their shares - recovers to its historic average. True, this rating discount is mostly in relation to Vp's overseas peers, so the widening has been predominantly linked to the relative decline of the UK's support services sector.
The group's focus on specialist segments of the equipment hire market has seen consistent improvement in profit margins and return on capital. The corporate structure comprises six operating divisions: UK Forks, Groundforce, Airpac Bukom Oilfield Services, Hire Station, Torrent Trackside and TPA. The group’s operations stretch across the UK, Ireland and into mainland Europe, and its oil and gas business operates internationally from a network of hubs across the globe. Predictably, this segment of the business has caused some consternation due to the fall-away in capital spending across the oil and gas industry. The effects of the industry-wide retrenchment were reflected in Vp's first-half figures, when Airpac Bukom reported a 25 per cent contraction in revenue, although a focus on cost controls meant that profit margins held up reasonably well.
The group continues to see encouraging remits from the construction and housebuilding industries. This was reflected in the performance of Hire Station in the first half, where revenue and profit were up 9 per cent and 27 per cent respectively. All told, the group claims a highly creditable 16.1 per cent return on equity at the half-year mark, against 14.9 per cent in the previous first half."