Vp’s H1 results were well flagged in the October update, confirming a strong H1 performance, with adj. PBT up 1.4% despite a challenging market backdrop. Vp continues to trade more resiliently than its peers (H1 adj. PBT -56% at Speedy and -30% at HSS), whilst maintaining its superior margin. We put this down to its specialist focus, its diversified end market exposure and a strong management team. There is a mixed end market picture but overall activity levels remain stable. Infrastructure is t ....
28 Nov 2023
Outperforming peers despite challenging backdrop
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Outperforming peers despite challenging backdrop
Vp plc (VP:LON) | 658 443.8 11.2% | Mkt Cap: 264.0m
- Published:
28 Nov 2023 -
Author:
Greg Poulton -
Pages:
3
Vp’s H1 results were well flagged in the October update, confirming a strong H1 performance, with adj. PBT up 1.4% despite a challenging market backdrop. Vp continues to trade more resiliently than its peers (H1 adj. PBT -56% at Speedy and -30% at HSS), whilst maintaining its superior margin. We put this down to its specialist focus, its diversified end market exposure and a strong management team. There is a mixed end market picture but overall activity levels remain stable. Infrastructure is t ....