Vp (VP.)

[ADVERT]

Company name:	Vp Plc
EPIC:	VP.	Trading Currency:	GBX
Market Sector:	ON15	ISIN:	GB0009286963
Market Segment:	SET3	Share Type:	DE
WWW Address:		Description:	ORD 5P
Industry Sector:	SUPPORT SERVICES

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
1,035.00	17.5 [1.72]	1,020.00	1,050.00	1,030.00	1,030.00	1,020.00	3,492
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
415.60	40.15	0.29	-11.62	25.00	-	2.42	1,030.00 - 604.00

Vp Key Figures

(at previous day's close)
Market Cap.	415.60	m
Shares In Issue	40.15	m
Prev. Close	1,017.50
PE Ratio	-
Dividend Yield	2.42	%
EPS - basic	-11.62	p
Dividend PS	25.00	p
Dividend Cover	-
Cash Flow PS	261.28	p
Return On Equity (ROE)	-3.01	%
Operating Margin	-0.74	%
PEG Factor	-
EPS Growth Rate	-124.77	%
Dividends PS Growth Rate	195.86	%
Net Debt	275.35	m
Gross Gearing	65.54	%
Quick Assets	83.28	m
Net Working Capital	-83.46	m
Intangibles / Fixed Assets	33.26	%
Turnover PS	767.03	p
Pre-Tax Profit PS	-5.65	p
Retained Profit PS	-33.06	p
Cash PS	39.64	p
Net Cash PS	-393.89	p
Net Tangible Asset Value PS *	88.19	p
Net Asset Value PS	381.32	p
Spread	30.00 (2.86%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Vp Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	1,030.00	1,000.00
4 weeks	1,030.00	954.00
12 weeks	1,030.00	870.00
1 year	1,030.00	604.00

Share Price Chart (5 years)

Vp Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	1,030.00	5.00	0.49	1,000.00	0.00		1,009.31
4 weeks	954.00	81.00	8.49	954.00	0.01		1,003.62
12 weeks	890.00	145.00	16.29	870.00	0.01		945.08
26 weeks	812.00	223.00	27.46	800.00	0.02		884.09
1 year	640.00	395.00	61.72	604.00	0.02		811.69
3 years	1,110.00	-75.00	-6.76	499.00	0.02		847.75
5 years	730.00	305.00	41.78	499.00	0.02		859.46
† periods calculated are whole weeks rather than calendar months

Vp Key Management Ratios

Vp Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	4.93
PE Ratio	-
Tobin's Q Ratio	0.87
Tobin's Q Ratio (excl. intangibles)	1.20
Dividend Yield	2.42	%
Market-to-Book Ratio	2.71
Price-to-Pre-Tax Profit PS	-183.16
Price-to-Retained Profit PS	-31.31
Price-to-Cash Flow PS	3.96
Price-to-Sales PS	1.35
Price-to-Net Tangible Asset Value PS	11.73
Price-to-Cash PS	26.11
Net Working Capital PS	-207.85
Price Pct to Working Capital PS	-4.98	%
Earnings Yield	-	%
Average PE	14.18
Years in average	4
PE to PE average	-	%

Vp Financial Ratios

(Leverage Ratios)
Debt Ratio	43.35	%
Debt-to-Equity Ratio	0.77
Debt-to-Equity Ratio (excl. Intgbl)	3.31
Debt-to-Equity Market Value	0.28
Net Gearing	61.96	%
Net Gearing (excl. Intangibles)	84.28	%
Gross Gearing	65.54	%
Gross Gearing (excl. Intangibles)	89.15	%
Gearing Under 1 Year	39.17	%
Gearing Under 1 Year (excl. Intgbl)	53.28	%
Assets/Equity	2.90
Cash/Equity	10.40
(Liquidity Ratios)
Net Working Capital to Total Assets	-18.78	%
Current Ratio	0.52
Quick Ratio (Acid Test)	0.48
Liquidity Ratio	0.09
Cash & Equiv/Current Assets	17.56	%
(Solvency Ratios)
Enterprise Value	516.89	m
CFO/Sales	0.34
CFO/Attributable Profit	-
CFO/Assets	0.24
CFO/Debt	0.36
Total Debt/Equity Market Value	0.70
Total Debt/Sales	0.95
Total Debt/Pre-Tax Profit	-128.37
Total Debt	291.27	m
Total Debt/Net Current Assets	-3.49	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	5

Beta (60-Mnth)	Beta (36-Mnth)
0.2923	0.2931

Vp Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	-0.84	%
Return On Assets (ROA)	-0.97	%
Net Profit Margin	-1.49	%
Assets Turnover	0.65
Return On Equity (ROE)	-3.01	%
Return On Investment (ROI)	-1.35	%
Dividend Payout Ratio	-	%
Plowback Ratio	100.00	%
Growth from Plowback Ratio	-	%
Net Income Of Revenues	-4.31	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	1.91
Fixed Assets Turnover	0.82
Current Assets Turnover	3.00
Net Working Capital Turnover
Inventory Turnover	37.53
(Other Operating Ratios)
Total Assets-to-Sales	1.55
Debtors-to-Sales	24.78	%
Debt Collection Period	90.44	Days

Vp Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
08 Jun 2021	Final	GBX	25.00	31/03/2020	31/03/2021	24/06/2021	25/06/2021	05/08/2021	25.00
07 Dec 2020	Special	GBX	22.00	31/03/2020	31/03/2021	17/12/2020	18/12/2020	17/01/2021	-
04 Dec 2019	Interim	GBX	8.45	31/03/2019	31/03/2020	12/12/2019	13/12/2019	17/01/2020	8.45
04 Jun 2019	Final	GBX	22.00	31/03/2018	31/03/2019	27/06/2019	28/06/2019	08/08/2019	30.20
27 Nov 2018	Interim	GBX	8.20	30/03/2018	30/09/2018	06/12/2018	07/12/2018	11/01/2019	-
05 Jun 2018	Final	GBX	19.20	31/03/2017	31/03/2018	28/06/2018	29/06/2018	09/08/2018	26.00
21 Nov 2017	Interim	GBX	6.80	30/03/2017	30/09/2017	30/11/2017	01/12/2017	05/01/2018	-
06 Jun 2017	Final	GBX	16.00	31/03/2016	31/03/2017	13/07/2017	14/07/2017	08/08/2017	22.00
29 Nov 2016	Interim	GBX	6.00	30/03/2016	30/09/2016	08/12/2016	09/12/2016	04/01/2017	-
07 Jun 2016	Final	GBX	13.50	31/03/2015	31/03/2016	07/07/2016	08/07/2016	02/08/2016	18.85
25 Nov 2015	Interim	GBX	5.35	30/03/2015	30/09/2015	03/12/2015	04/12/2015	08/01/2016	-
04 Jun 2015	Final	GBX	11.50	31/03/2014	31/03/2015	09/07/2015	10/07/2015	07/08/2015	16.50
27 Nov 2014	Interim	GBX	5.00	30/03/2014	30/09/2014	02/12/2014	05/12/2014	02/01/2015	-
05 Jun 2014	Final	GBX	10.40	31/03/2013	31/03/2014	09/07/2014	11/07/2014	08/08/2014	12.25
26 Nov 2013	Interim	GBX	3.60	30/03/2013	30/09/2013	04/12/2013	06/12/2013	03/01/2014	-
04 Jun 2013	Final	GBX	9.00	31/03/2012	31/03/2013	10/07/2013	12/07/2013	09/08/2013	12.25
28 Nov 2012	Interim	GBX	3.25	30/03/2012	30/09/2012	05/12/2012	07/12/2012	03/01/2013	-
29 May 2012	Final	GBX	8.25	31/03/2011	31/03/2012	11/07/2012	13/07/2012	10/08/2012	11.35
29 Nov 2011	Interim	GBX	3.10	30/03/2011	30/09/2011	07/12/2011	09/09/2011	04/01/2012	-
07 Jun 2011	Final	GBX	7.70	31/03/2010	31/03/2011	31/08/2011	02/09/2011	03/10/2011	10.80
30 Nov 2010	Interim	GBX	3.10	30/03/2010	30/09/2010	08/12/2010	10/12/2010	05/01/2011	-
08 Jun 2010	Final	GBX	7.70	31/03/2009	31/03/2010	01/09/2010	03/09/2010	01/10/2010	10.80
27 Nov 2009	Interim	GBX	3.10	30/03/2009	30/09/2009	09/12/2009	11/12/2009	06/01/2010	-
29 May 2009	Final	GBX	7.70	31/03/2008	31/03/2009	02/09/2009	04/09/2009	01/10/2009	10.80
25 Nov 2008	Interim	GBX	3.10	30/03/2008	30/09/2008	03/12/2008	05/12/2008	05/01/2009	-
05 Jun 2008	Final	GBX	7.70	31/03/2007	31/03/2008	03/09/2008	05/09/2008	01/10/2008	10.50
27 Nov 2007	Interim	GBX	2.80	30/03/2007	30/09/2007	05/12/2007	07/12/2007	04/01/2008	-
04 Jun 2007	Final	GBX	8.25	31/03/2006	31/03/2007	05/09/2007	07/09/2007	01/10/2007	10.50
04 Dec 2006	Interim	GBX	2.25	30/03/2006	30/09/2006	13/12/2006	15/12/2006	11/01/2007	-
08 Jun 2006	Final	GBX	4.65	31/03/2005	31/03/2006	06/09/2006	08/09/2006	02/10/2006	6.60
01 Dec 2005	Interim	GBX	1.95	30/03/2005	30/09/2005	07/12/2005	09/12/2005	06/01/2006	-
09 Jun 2005	Final	GBX	4.00	31/03/2004	31/03/2005	07/09/2005	09/09/2005	03/10/2005	5.75
02 Dec 2004	Interim	GBX	1.75	30/03/2004	30/09/2004	08/12/2004	10/12/2004	07/01/2005	-
15 Jun 2004	Final	GBX	3.40	31/03/2003	31/03/2004	08/09/2004	10/09/2004	01/10/2004	5.00
01 Dec 2003	Interim	GBX	1.60	30/03/2003	30/09/2003	10/12/2003	12/12/2003	09/01/2004	-
10 Jun 2003	Final	GBX	3.00	31/03/2002	31/03/2003	03/09/2003	05/09/2003	01/10/2003	4.50
21 Nov 2002	Interim	GBX	1.50	30/03/2002	30/09/2002	04/12/2002	06/12/2002	06/01/2003	-
11 Jun 2002	Final	GBX	2.80	31/03/2001	31/03/2002	04/09/2002	06/09/2002	01/10/2002	4.20
27 Nov 2001	Interim	GBX	1.40	30/03/2001	30/09/2001	05/12/2001	07/12/2001	07/01/2002	-
12 Jun 2001	Final	GBX	2.65	31/03/2000	31/03/2001	05/09/2001	07/09/2001	02/10/2001	4.05
05 Dec 2000	Interim	GBX	1.40	30/03/2000	30/09/2000	11/12/2000	15/12/2000	08/01/2001	-
27 Jun 2000	Final	GBX	2.65	31/03/1999	31/03/2000	29/08/2000	04/09/2000	03/10/2000	4.05
25 Nov 1999	Interim	GBX	1.40	30/03/1999	30/09/1999	06/12/1999	10/12/1999	10/01/2000	-
15 Jul 1999	Final	GBX	2.65	31/03/1998	31/03/1999	06/09/1999	10/09/1999	04/10/1999	4.05
23 Nov 1998	Interim	GBX	1.40	30/03/1998	30/09/1998	14/12/1998	18/12/1998	11/01/1999	-
10 Jun 1998	Final	GBX	2.65	31/03/1997	31/03/1998	01/09/1998	07/09/1998	02/10/1998	4.05

Vp Fundamentals

	31 Mar 2018 (GBP)		31 Mar 2019 (GBP)		31 Mar 2020 (GBP)		31 Mar 2021 (GBP)
turnover	303.64	100.00%	382.83	100.00%	362.93	100.00%	308.00	100.00%	m
pre tax profit	30.81	10.15%	33.58	8.77%	28.37	7.82%	-2.27	-0.74%	m
attributable profit	24.37	8.02%	25.82	6.75%	18.59	5.12%	-4.60	-1.49%	m
retained profit	15.38	5.07%	14.97	3.91%	6.53	1.80%	-13.28	-4.31%	m
eps - basic (p)	61.72		65.20		46.92		-11.62
eps - diluted (p)	60.95		63.66		46.17		-11.62
dividends per share	26.00		30.20		8.45		25.00

Vp Balance Sheet

	31 Mar 2018 (GBP)		31 Mar 2019 (GBP)		31 Mar 2020 (GBP)		31 Mar 2021 (GBP)


	31 Mar 2018 (GBP)		31 Mar 2019 (GBP)		31 Mar 2020 (GBP)		31 Mar 2021 (GBP)
ASSETS
fixed assets	241.94	55.82%	248.65	54.25%	247.76	48.77%	233.91	52.64%	m
intangibles	91.48	21.11%	89.67	19.56%	142.83	28.11%	117.68	26.48%	m
fixed investments	2.23	0.51%	2.73	0.60%	3.02	0.59%	2.18	0.49%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	8.66	2.00%	7.81	1.70%	9.07	1.79%	7.34	1.65%	m
debtors	70.92	16.36%	80.43	17.55%	85.27	16.78%	67.36	15.16%	m
cash & securities	18.19	4.20%	29.04	6.34%	20.09	3.96%	15.92	3.58%	m

TOTAL	433.42	100%	458.34	100%	508.04	100%	444.39	100%	m

LIABILITIES
creditors - short	82.48	19.03%	101.56	22.16%	99.04	19.49%	174.08	39.17%	m
creditors - long	196.49	45.33%	187.89	40.99%	239.08	47.06%	117.19	26.37%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	278.97	64.37%	289.45	63.15%	338.12	66.55%	291.27	65.54%	m

EQUITY
ord cap, reserves	154.42	35.63%	168.86	36.84%	169.89	33.44%	153.09	34.45%	m
prefs, minorities	0.03	0.01%	0.03	0.01%	0.03	0.01%	0.03	0.01%	m

TOTAL	154.45	35.63%	168.89	36.85%	169.92	33.45%	153.12	34.46%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

Vp Cash Flow Statement

	31 Mar 2018 (GBP)	31 Mar 2019 (GBP)	31 Mar 2020 (GBP)	31 Mar 2021 (GBP)
Operating CF	63.30	79.91	84.89	104.92	m
Pre-Financing CF	-39.42	25.29	48.26	75.87	m
Retained CF	-0.18	2.70	2.27	2.01	m

Vp Brokers

Name	Activity	Type	Mnemonic	Code
Altium Capital Limited	Market Maker(MME)	Broker/Dealer	ALTI	APCFGB21
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Panmure Gordon (UK) Limited	Market Maker(MME)	Broker/Dealer	PMUR	PMURGB2L
Merrill Lynch International	Market Maker(MME)	Broker/Dealer	MLSB	SNCSGB2LBIC
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC