User Notice: The site will be occasionally unavailable due to scheduled maintenance this weekend. Please accept our apologies for any inconvenience.

Vp Dividends - VP.

Vp Dividends - VP.

Best deals to access real time data!
Level 2 Basic
Monthly Subscription
for only
Monthly Subscription
for only
UK/US Silver
Monthly Subscription
for only
VAT not included
Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Vp Plc VP. London Ordinary Share GB0009286963 ORD 5P
  Price Change Price Change % Stock Price Last Trade
-5.00 -0.58% 861.00 16:35:28
Open Price Low Price High Price Close Price Previous Close
861.00 866.00
more quote information »
Industry Sector

Vp VP. Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

edmonda: #VP. Given Britain’s successful vaccine rollout, prospects have improved dramatically over the past 12 months, with Vp saying this morning that FY21 results were “in line with expectations”, and it exited the period on a run-rate of c.“95% of pre-Covid levels”. Despite “some sectors (eg events & hospitality) remaining closed and infrastructure (eg AMP7 and CP6) not yet fully up to speed”. We are forecasting FY21 adjusted PBT of £23.0m on sales of £299.6m – ending the year with £124m of net debt. The latter reflecting tight working capital control (re debtors), lower fleet capex and approx £8m of deferred VAT to be repaid in FY22. Similarly, we have upgraded our FY22 PBT by 12% to £33.5m, alongside increasing the valuation from £9 to £11 per share. What’s more, in light of Vp’s consistent track record of innovation, execution & above-average returns, we could readily see the stock tracking towards £16.80 by 2024 - assuming 5% organic top line growth can be achieved across the economic cycle.
brummy_git: Latest commentary here wrt today's positive H1'21 results from Vp hxxps://
brummy_git: Latest commentary here wrt today's positive trading update from Vp ahead of its 10am AGM hxxps://
edmonda: Results are in line , with adj PBTA reaching a record level. Obviously coronavirus means uncertain outlook in short term , but even without forecasts yet the shares at 800p appear attractively priced, trading on trailing 8.9x PER, 1.9x price:book and 4.9x EV/EBITDA multiples - offering upside potential for patient investors vs peer group averages. Full note from Equity Development just published (with debt and re-opening of construction addressed) . Free access here:
edmonda: Amidst a rush of updates today, Vp look in good shape: trading 'satisfactory' since interims in Dec and FY seen just marginally below expectations. New research from Equity Development just published shows low rating: trailing 5.5x PE, 1.2x Price:Book and 3.8x EV/EBITDA - vs 860p/share fair value. Click here for full note:
equitydev: hxxps:// The holy grail for corporates is to create a sustainable edge that produces superior returns over the long term, and whose advantage is not eroded by time or competition. We think specialist plant hire firm Vp, with its strong niche positions, has achieved this. What’s more at 810p, its shares today trade at an historically low 8.0x PER, whilst also paying a 4.0% yield. Sure there are some macro headwinds, such as Brexit, lackluster global growth and US vs China trade wars. Yet equally the company is performing well, as illustrated again this morning. Here the group said that FY20 was on track to hit expectations. UK infrastructure spend is “holding up well”, whilst housebuilding remains stable, due to near-record levels of employment, low borrowing costs, good mortgage availability and the popular Help to Buy scheme. Partly offset by softness in general construction, particularly centred on London and the South East. Elsewhere, the £69.2m acquisition of Brandon Hire in Nov’17 has been successfully integrated with Hire Station. Some of the synergies will be realised later, albeit we estimate the deal should ultimately deliver c.£4m of annualised savings, related to procurement/cost improvements, economies of scale and greater asset/inventory utilisation. In turn, boosting the original RoI from 8.7% to >14% - materially above Vp’s ‘through cycle’ cost of capital. Lastly, despite experiencing a “softer start to FY20” than anticipated, Vp’s International division has recently enjoyed an uptick in activity levels across petrochemical and test & measurement. All told, we reiterate our adjusted FY20 PBT forecast of £49.6m and 1,075p/share valuation – offering 33% upside to patient investors.
kingston78: Today's statement on current year's trading is relatively subdued compared with the company's rosy and upbeat annual and interim statements. The construction industry is in decline and there will be more competition for lower margins. VP's overseas divisions are small. VP has not reduced its net debt and overall liability since its expensive acquisition of Brandon Hire. The Competition and Market Authority will continue to investigate into VP for cartel malpractice. Fines and penalties by regulatory authorities throughout the world, including the UK,are getting heavier and harsher. VP's provision on this aspect is unlikely to be adequate. Moreover, it is quite possible that VP's other divisions may be investigated. The weekly chart did not bold well for a week, with the signal cutting down. Now the share price has fallen below £8 the next stop will be £7 testing its previous low.
kingston78: VP's continues to pay higher dividend year after year. This is unsustainable because the Group does not generate sufficient cash. It is no good to look at the Group's announced statistics because they are in a way distorted and meaningless. The balance sheet tells me a different story. The company has higher Trade Creditors and a huge bank borrowing (to finance the Brandon Hire acquisition). On the other side of the equation it has huge intangibles. You know what intangibles mean. They don't have tangible value. They are there to balance the books (purchase price minus net book value/fair value acquired). It added £55 million of intangibles to its balance sheet when acquiring Brandon Hire. In plain English, this is money paid upfront to the Vendors of the Brandon Hire business in the hope that the business will generate sufficient cash in the future. Any hiccup will result in write-down in the future, as we have witnessed too often elsewhere. There will be more bad debts to hit the plant hire division. The only saviour so far is a piece of financial engineering in that the company has used its cheap debt to pay off £25 million expensive loan inherited from Brandon Hire, thus saving the group interest charges. This will enhance group profit and earnings. VP's future is not as rosy as the directors have painted. Brandon Hire was acquired in November 2017. It contributed only 4 months worth for the year ended 31/3/2018. For the year ended 31/3/2019 Brandon contributed a full 12 months to the group. All the statistics of course are +++++. But the bottom line is more pedestrian, which for reasons mentioned above does not justify higher dividend, in my opinion. Time will tell whether my analysis is correct.
kingston78: Depreciation is a major component of cost of sales in the plant hire industry. Amortisation (of goodwill on acquisition and other kinds of goodwill and intangibles) is also a recurring charge to the Profit and Loss account. It is more so as VP is building up its businesses via acquisition rather than by organic growth. Turnover will obviously increase as the group expands. Other performance measures will obviously improve because they are stated pre-amortisation and pre-depreciation, and also pre-interest. These measurements flatter the results of the trading divisions. Moreover, a lot of central costs etc are charged to the Holding Company and anything that may be classified as Exceptional will be charged as such to flatter the divisional results. In short, the divisional results are not as good as they are portrayed to be. You need to look at cash flow,net debts and the overall Balance Sheet to gauge the financial health of the Group. Growing by acquisition and by debt has many weaknesses. On trading practices and allegation of price fixing, the CMA will no doubt carry out a detailed investigation and act accordingly.
chalkyboard: Thanks edmonda. Really appreciate all the sector multiples, which suggest there is further to run on Vp. Also liked the bit on downside resilience given the Brexit impasse in Westminster - "if the equity markets become increasingly choppy again over the next few months, then we think tucking away consistent high-performers like Vp on any dips, should prove to be a lucrative strategy."
ADVFN Advertorial
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210508 05:39:03