Vp (VP) Trading Update summary

Trading performance and market conditions

• Resilient performance driven by specialist businesses and diversified revenue streams despite challenging macroeconomic conditions.

• Infrastructure market shows year-on-year growth, with strong demand in transmission, water, and civil engineering.

• Non-residential construction remains subdued; Brandon Hire Station's improvements are slower than expected.

• Housebuilding remains soft, but government initiatives and energy market demand provide optimism.

Strategic initiatives and acquisitions

• Progress continues on a refreshed strategy focused on long-term sustainable returns and operational efficiency.

• Digital roadmap implementation is advancing, aiming to simplify operations.

• Acquisition of a majority interest in Charleville Hire and Platform Ltd (CPH) expands presence in the Irish powered access market.

Financial position and outlook

• Maintains a robust balance sheet and strong financial position, supported by a track record of delivery.

• Market headwinds in construction and housebuilding, along with a slower start to new rail projects, present ongoing challenges.