Vp shares down despite 'positive' progress

Equipment rental company Vp posted a trading update as it entered its close period on Wednesday, reporting that it maintained its positive start to the financial year with “good progress” made in the majority of its markets.

The London-listed firm said the UK division had enjoyed healthy trading within the construction and housebuilding sectors, supported by solid demand from the infrastructure markets, and was delivering good year on year growth.

“Within the international division, TR Group - which we acquired in April 2016 - is integrating well within the overall group and trading in line with our expectations,” the board said.

“The oil and gas sector remains challenging,” it warned, but added: “overall Vp is trading well and we continue to anticipate making further good progress in the year.”

It confirmed it will announce its interim results for the six months to 30 September on 29 November 2016.

At 1447 BST, shares in Vp were down 1.84% at 692p.