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13
Jun 2021
Harrogate firm posts turnover of £300m in 'year of unprecedented challenges'
Vp, which has its headquarters at Central House on Otley Road, said following the pandemic it took steps to reduce costs and save cash including closing or merging 25 of its locations.
Harrogate building equipment rental company Vp has reported a turnover of £308 million and profits of £23.3 million, down from £48.1 million in the previous year.
Vp, which has its headquarters at Central House on Otley Road, said following the pandemic it took steps to reduce costs and save cash including closing or merging 25 of its locations.
The company said trading in the current financial year has started strongly, with the infrastructure sector expected to grow and the housebuilding and construction sectors showing signs of sustained improvement.
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Jeremy Pilkington, chairman of Vp plc, said:
"I am pleased to be reporting a set of results that are ahead of our expectations in a year that has seen unprecedented challenges for the business and its customers. The past twelve months saw a focus on cash management which delivered a significant reduction in net debt.
"We have exited the year at nearly pre-Covid levels which is a better recovery than we anticipated at the beginning of the pandemic."
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