Rental equipment specialist VP continues to invest in the future

4th Jun 2013 13:22

Rental equipment specialist VP continued to invest in its future during the year ended March 31st 2013, while at the same time managing to grow its profitability, increasing its dividend pay-out and yet at the same time maintain its level of 'gearing' steady at 45 per cent. The company's profits before tax and amortisation rose by 9% to $17.4m, leading to a 15.3% increase in its pre-amortisation dividend per share. That came on the back of a 3% rise in revenues to £167m, together with a slight improvement in operating margins and operating cash flows. Of particular note, the firm continues to invest heavily, to the tune of £24.14m versus £27.23m one year ago, including £4.1m spent on acquisitions.The company has proposed a final dividend of 9.0p per share, making for a total of 12.25p for the full year, an increase of 8%. AB