Harrogate-based equipment hire group Vp says it will hit full-year forecasts, with water and electricity projects lifting its second-half prospects. Andrew Palmer reports.

Vp, the Harrogate-headquartered specialist equipment rental group, says it is on course to meet City expectations for the full year after a steady first half.

In a trading update covering the six months to 30 September, the company said it expects the second half of the year to March 2027 to beat the same period last year.

Electricity transmission work remains strong and rail is holding steady. The water sector has gathered pace in the second quarter as spending under AMP8, the industry’s current five-year investment cycle, has ramped up. The group’s international arm also continues to trade well.

Brandon back on its feet

Brandon Hire Station, the tool and equipment hire chain that Vp overhauled last year, has improved despite a construction market that remains difficult. The company said one-off costs linked to the restructure have been booked this year, as expected.

Vp said it is pressing ahead with its strategy. That includes a digital transformation programme, which it says is already making operations more efficient, and an expanded executive committee.

Chief executive Alice Woodwark said the first half had shown the strength of the group’s broad spread of businesses. “Momentum in our UK segment increases our second half confidence,” she said. She pointed to water and electricity transmission as the infrastructure markets where Vp is best placed to benefit.

Full interim results are due on Wednesday 25 November.

In a sector where “in line with expectations” can sound like faint praise, Vp will settle for it this time.