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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
|
|
|---|---|---|---|---|
| 7.50 | 1.29% | 587.50 | 16:35:10 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 587.50 | 580.00 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 05/06/2024 | Final | GBP | 0.275 | 20/06/2024 | 21/06/2024 | 07/08/2024 |
| 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 25/7/2024 06:28 by edmonda "Trading in-line and delivering strategic progress"Today’s AGM update confirms that Vp continues to perform well, reiterating full year expectations despite challenges in certain markets (notably construction). Meanwhile, the new management team is progressing the refreshed strategic priorities set out in June. Broad market trends are consistent with those reported in recent periods. Infrastructure remains supportive, with good momentum and strong demand in transmission, water and civil engineering, although rail has seen a slower start to the year at the beginning of Control Period 7 (UK’s regulated five-year rail programme). The energy market is positive in the UK and internationally, whilst construction remains mixed (non-residential challenging, housebuilding subdued). The new management team remains focused on the strategic priorities set out at June’s full year results: cross divisional collaboration, simplifying the Group’s operating model, and developing the digital roadmap. Vp has an excellent track record of earnings and dividend growth over the long term, underpinned by the specialist focus of its activities and the diversity of its services and end markets. In our view, this track record warrants a premium rating. We therefore consider the current valuation (a P/E of 9x and a 25% discount to peers) an anomaly and an attractive entry point for this high-quality business. We make no changes to our forecasts and maintain our 1,110p Fair Value estimate. Link to report: |
Posted at 12/6/2024 07:24 by mammyoko Wonder if VP picked up the Amey contract that HSS have lost. Contract was 25m sales and 2.4m profit for HSS |
Posted at 10/6/2024 13:59 by edmonda Video recording now available - Investor Presentation (FY Results)Anna Bielby (Chief Executive) and Keith Winstanley (CFO) of Vp plc conducted an Investor Presentation covering Final Results for the year ended 31 March 2024. The team discussed the solid overall performance despite challenges in some end markets, and the strong Return on Average Capital Employed, slightly ahead of prior year. The opportunity around both bolt on and strategic M&A across their different sectors was explored, along with ongoing digitisation to deliver enhanced procurement and cross selling. Management provided a detailed Financial and Operational review, and took investors through the different components of refreshed strategy. There was also a wide-ranging Question & Answer session at the end of the presentation. The full video has been divided into chapters, as below: 0:00:03 Video - "We are Vp Group" 0:01:51 Introduction and FY24 highlights 0:07:27 Financial review 0:14:11 Strategy update 0:22:58 Operational review 0:27:52 Summary and outlook 0:28:45 Questions & Answers Link to full video presentation: |
Posted at 05/6/2024 06:33 by edmonda "Positioned for growth under new leadership"Vp’s FY’24 results confirm a solid performance and an impressively resilient outturn on all key financial metrics. Revenue and adjusted profits are a shade below the prior year, whilst return on average capital employed, the final dividend and year-end net debt all show a year-on-year improvement. The results are in line with our expectations and are, once again, sector-leading. We nudge our Fair Value estimate up from 1090p to 1110p. We see attractions in a 5.6% dividend yield and significant scope for earnings growth over the medium term as management initiatives take effect and, ultimately, market recovery takes hold. Vp’s shares have performed well in recent months (+c.30%) alongside improving sentiment towards UK-focused shares. Despite this, the shares remain attractively valued and trade at a discount to the immediate peer group. In our view, Vp’s consistent outperformance of sector peers and long-term track record of earnings and dividend growth warrant a premium rating. Link to research report: |
Posted at 31/5/2024 10:00 by edmonda Save the Date - Investor Presentation on 7th June (sign up at the below link!)Vp plc (LSE: Vp.), the equipment rental specialist, will be conducting an Investor Presentation covering its Final Results for the year ended 31 March 2024. The online event will take place at 10.00am on Friday 7th June and will be hosted by Anna Bielby (Chief Executive) and Keith Winstanley (CFO). The presentation is open to all existing and potential shareholders. Questions can be submitted during the presentation to be addressed at the end. Link to register: |
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 06:10 by jonwig Trading update looks OK. ("Challenging" in construction, but that's no surprise.)H1 results 28/11. |
Posted at 22/9/2023 11:30 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 08/6/2023 08:08 by rcturner2 The dividend yield at the current price is 5.75%. |
Posted at 07/6/2023 06:48 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: |
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