Vp expects to meet full year forecasts

14th Feb 2013 07:27

Rental equipment specialist Vp said trading through the winter period has been satisfactory and expects to report full year profits in line with market expectations.The group, which provides products and services to oil and gas exploration markets, civil engineering, rail and construction, added that while there has not been a tangible improvement in overall market conditions, most sectors have remained stable. Vp which operates six divisions: Groundforce, UK Forks, Airpac Bukom, Torrent Trackside, TPA and Hire Station, said sustained demand from regulated infrastructure markets has continued to provide a solid base for the group, in what has otherwise been soft general construction demand. Otherwise in oil and gas, the lower levels of liquefied natural gas activity have continued into the second half as expected. "However the board is pleased to report that we have secured a number of LNG contracts in the Asia Pacific region which will contribute in the new financial year," it said in a statement."Optimisation of the performance of Vp's existing specialist activities remains the board's priority and the group continues to invest in support of secured opportunities as they arise."CJ