Vp PLC H1 Profit Down, Says Trading Inline With FY View; Names Anna Bielby CFO; Stock Up

Vp plc (VP.L), an equipment rental specialist, reported Tuesday that its first-half profit before taxation was 17.9 million pounds, down 4 percent from 18.6 million pounds a year ago.

Profit before tax, amortisation and exceptional items was 21.5 million pounds, compared to 20.2 million pounds last year. Adjusted earnings per share were 42.5 pence, compared to 37.7 pence in the prior year.

Revenues grew 6 percent to 186.5 million pounds from 176.1 million pounds in the previous year.

Further, the company’s Board has proposed an interim dividend of 11 pence per share, up 5 percent from last year.

Looking ahead, the company said its current trading is in line with the Board’s expectations for the full year.

Separately, Vp plc announced the appointment of Anna Bielby as Chief Financial Officer with effect from January 1, 2023. Bielby will join the Board, and will succeed Allison Bainbridge, Group Finance Director, who will retire and step down from the Board on December 31.

Bainbridge will remain in the business to support with the transition until January 31, 2023.

Bielby was most recently the Interim CFO at Lookers plc.

Further, the company announced the appointment of two new non-executive directors, Stuart Watson and Mark Bottomley, from January 1. Watson will also be Chair of the Audit Committee

Stephen Rogers, who has been a non-executive since October 2008, will be retiring from the Board on December 31.

In London, Vp plc shares were trading at 690 pence, up 3 percent.

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