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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Vp Plc | VP. | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -17.50 | -2.78% | 612.50 | 16:35:20 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 625.00 | 600.00 | 625.00 | 612.50 | 630.00 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 28/11/2023 | Interim | GBP | 0.115 | 07/12/2023 | 08/12/2023 | 10/01/2024 |
| 07/06/2023 | Final | GBP | 0.265 | 22/06/2023 | 23/06/2023 | 04/08/2023 |
| 29/11/2022 | Interim | GBP | 0.11 | 08/12/2022 | 09/12/2022 | 11/01/2023 |
| 08/06/2022 | Final | GBP | 0.255 | 23/06/2022 | 24/06/2022 | 05/08/2022 |
| 30/11/2021 | Interim | GBP | 0.105 | 09/12/2021 | 10/12/2021 | 11/01/2022 |
| Top Posts |
|---|
Posted at 28/11/2023 07:21 by edmonda Vp plc - "Vp’s interims confirm another solid performance and continued growth despite the challenging backdrop. Revenue increased by 2.4% to £190.9m and adjusted PBT by 1.9% to £21.9m. This is >50% of our full year forecast (trimmed by c.4% to bring us in line with consensus). Infrastructu The period was notable for the change in leadership with Anna Bielby succeeding Neil Stothard as Group Chief Executive. Keith Winstanley has been appointed Group CFO and joins the Group in January 2024. We expect the refreshed management team to build on the Group’s strong foundations, with Digital innovation and ESG commitment at the forefront of Group strategy. Foll |
Posted at 11/10/2023 07:10 by jonwig Trading update looks OK. ("Challenging" in construction, but that's no surprise.)H1 results 28/11. |
Posted at 22/9/2023 12:30 by jonwig cfro - I don't think the amount of the debt is a problem (Net Debt : EBITDA is about 1.4x), but there is concern about next year's refinancing of the £53m RCF. (The auditors consider it material.)They say discussions are proceeding well, and should be completed by November. I see no reason why a bank would refuse to refinance, given the interest charge (guess) of £4m, compared with operating cashflow of £80m and, in extremis, a dividend costing £15m. Of course, the new RCF could well be a bigger spread over SONIA, which seems to be your main point. Don't ask me why the shares are so low-priced, as I've no idea why. It may be concern over the refinancing, of course. |
Posted at 11/8/2023 07:53 by brummy_git Today's change at the top of Vp plc is a major milestone for the business.After >25 years, existing CEO Neil Stothard has decided to retire & hang up his boots (Neil was also apparently an accomplished Oxbridge rugby blue in his day). Transferring the baton to existing CFO Anna Bielby from 1st Sept. For investors, I have been covering Vp for almost a decade, and believe this astute transition will work like clockwork. Sure Neil's leadership, strategic direction & commercial acumen will be sorely missed. However having spoken to Anna on a number of occasions - I equally know she is a highly capable executive, and will successfully lead Vp plc into the next stages of its life. Better still, the stock at 575p, looks incredibly under-valued, trading on a 7.2x FY'24 PER. |
Posted at 11/8/2023 07:11 by jonwig CEO to retire. orderly internal succession: |
Posted at 09/8/2023 17:33 by essentialinvestor Thanks, I hold RIII already which has VP as a top holding, may buy a smallamount as a direct holding. |
Posted at 08/6/2023 09:08 by rcturner2 The dividend yield at the current price is 5.75%. |
Posted at 07/6/2023 07:48 by edmonda We published a new note today on Vp plc who published in-line numbers & a positive outlook, despite experiencing softer conditions in some end markets. Indeed impressively, FY’23 revenues, adjusted PBTA, EPS & ROCE came in at £371.5m (+6% vs LY), £40.5m (+4%), 79p (+11%) & 14.4% respectively. This reflects solid performances in UK infrastructure (e.g. energy, rail & water) and RMI, augmented by a bounce back in International (AirPac & TR), where EBIT margins expanded to 8.1% (+4.9%) on sales up 23.9% to £38.1m.This puts the stock (at 650p) on attractive trailing EV/EBITDA, EV/EBIT & PE multiples of 4.3x, 8.6x and 8.2x – whilst similarly paying a generous 4.2% dividend yield. We believe this is simply too cheap for a best-in-class, GDP resilient business with a proven track record. Link to our research report here: |
Posted at 13/4/2023 15:13 by edmonda On track to again grow profitably in FY’24 (new note from Equity Development)Today’s “in line” FY23 trading update from Vp reiterates that it had made “good progress within its core markets” since the interims in Nov’22. It has benefitted from strength in civil engineering (eg highways) and infrastructure (eg water, rail & energy), alongside successfully lifting prices to cover input inflation as well as rightsizing some parts of the group to further reduce costs. Elsewhere, the international energy & testing divisions also performed well, while residential housing has stabilised at lower levels - partly supported by robust RMI activity where millions of properties need modernisation. As such, we retain our projections and £11.30/share valuation. Based on forecasted FY’23 revenues, adjusted PBTA and EPS of £365.5m, £40.2m & 75.9p (+6.5% YoY) respectively - climbing to £376.5m, £43.3m and 81.3p (7.2%) in FY’24. This in turn puts the stock (at 670p) on attractive FY’24 EV/EBITDA, EV/EBIT & PE multiples of 4.2x, 8.2x and 8.2x – whilst paying a 6.0% dividend yield. We believe this is simply far too cheap for a best-in-class, economically resilient business with a proven track record through thick & thin. |
Posted at 29/11/2022 10:32 by edmonda Solid H1 results from Vp as H1 sales rose +5.9% to £186.5m. It trades on modest CY EV/EBITDA and EV/EBIT multiples of 4.5x and 9.0x respectively and Equity Development retains its headline FY23 numbers and fair value of £11.30/shareRead new research note here, free access: NB management webinar this Thursday |
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