Vp makes "good progress" in the UK

UK rental company Vp plc said its businesses had made "good progress" since June 2008 despite a more challenging business environment.

In an interim management statement, VP said; "Although the business environment has undoubtedly become more challenging, we have continued to benefit from the diversity of markets we serve. The oil and gas, transmission, outdoor events and utilities markets in particular continue to perform well and whilst housebuilding and the rail sector have been weaker, general construction demand has remained stable driven by ongoing public sector and regulated industry investment."

The company owns rental divisions for telehandlers, groundwork equipment, tool hire, air compressors for oil and gas, and railway equipment, all operating in the UK.

Vp said it was benefiting from its strategy; "Whilst we remain alert to changes in individual markets, we believe that our diversity across specialist markets is a key strength of the Group. We remain confident of delivering further progress in the current financial year."