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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
|
|
|---|---|---|---|---|
| -10.00 | -1.63% | 602.50 | 16:35:22 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 605.00 | 580.00 | 625.00 | 602.50 | 612.50 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Top Posts |
|---|
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 08/6/2021 17:47 by edmonda Vp plc investor webinar recording now available!Jeremy Pilkington, Chairman, Neil Stothard, CEO, and Allison Bainbridge, CFO, discuss their full year results. They cover the temporary dip in ROACE and how this is already recovering post the lifting of lockdown, their optimism for potential organic growth driven by a rebounding economy, and the increasing digitisation of the business. Full presentation and Q&A available to watch here: |
Posted at 07/6/2021 13:20 by edmonda Just a reminder that Vp plc will be hosting an investor webinar TOMORROW, 8th June (12.00pm) with a presentation and Q&A session to discuss FY results.Please click on the link to register for this event with Vp's CEO, Neil Stothard and FD, Allison Bainbridge: |
Posted at 24/5/2021 12:11 by edmonda Vp plc will be hosting an investor webinar on 8th June (12.00pm) with a presentation and Q&A session to discuss FY results.Please click on the link to register for this event with Vp's CEO, Neil Stothard and FD, Allison Bainbridge: |
Posted at 10/6/2020 07:56 by 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: |
Posted at 01/10/2019 07:34 by equitydev hxxps://www.equitydeThe 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. |
Posted at 05/6/2018 08:30 by edmonda another strong set of FY results: adj PBT £40.6m + 16%, EPS 81.8p +18%, div 26p +18%; plus a 'positive start' to new year.Full updated ED research note now out from Paul Hill, freely available at All investors should make their own decisions, Mr Highlands, but this analyst's opinions on Vp in the last 4 years haven't been too far wrong |
Posted at 20/2/2018 15:46 by kingston78 You may call me biased, but I am simply speaking the truth. Many people don't understand accounts and those investors rely on what they read in the company's reports. Quite understandably, the directors would like to emphasise the good points and hide the bad points. Some companies pay a dividend even when they have a large pension deficit, for example, to appease investors. This is a political game.I have analysed the accounts of VP and its main trading subsidiaries. The trading subsidiaries did not perform as well as the way they have been glossed over because the parent company cross charges tiny amount of directors' remuneration to those subsidiaries even though they spent a lot of time on them. Similarly, those subsidiaries receive large interest-free loan from the parent company. Whilst the Group results would be the same, the reporting on individual subsidiaries has been distorted, ie their results have been flattered. VP continues to chase growth by acquisition. This is a piece of financial engineering to increase earnings per share using cheap debts. This strategy works well whilst the going is good but is not sustainable in the long term because things go in cycle. How is the Group going to service the debt mountain in an economic downturn? VP is not and will not be the last company adopting this type of acquisition strategy until they fall on the own sword some years down the line. |
Posted at 16/2/2018 10:34 by kingston78 There is so little trading in VP's shares that it is difficult to say whether the share price is "genuine", for example, someone bought 30 shares at 880. Why would a small investor buy only 30 shares at a cost of £264 (plus broker's commission). It does not really make sense that this kind of small buying and selling continue, so far VP is concerned.Market makers, or indeed, anyone for that matter can manipulate the share price by buying or selling tiny amount. I would say this is a false market. |
Posted at 17/1/2018 22:27 by kingston78 VP has bought poor quality earnings from Brandon Hire, which because of its huge debt has high interest charges, denting its pre-tax profit to a mere £1 million.From VP's perspective this acquisition is a piece of financial engineering because it has borrowed from banks at a low interest rate to pay off some or all of Brandon's HP liability I presume, so that the overall earning of the enlarged group is enhanced. So far so good until the tide turns for the worse when trading becomes difficult with rising interest rate and the Groups' net debt becomes more difficult to manage. P/E will fall, so will the share price. Dividend will fall because the company's cash flow will be constrained. As an investor I am wary of a company's rapid expansion built on debt. Carillion is a classic example. |
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