Vp PLC (LON:VP.) saw its shares rise on Monday after the equipment rental specialist said it expects its full-year results for the year ended 31 March 2019 will be well ahead of the prior year and in line with current market expectations.
In a trading update, the FTSE All-Share listed firm said that, since its interim results announcement on 27 November 2018, the group has made further progress both within the UK and the International divisions.
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The company pointed out that its UK division has experienced stable demand from its core market sectors - infrastructure, construction and housebuilding.
It said the integration of Brandon Hire, which was acquired in November 2017, is progressing well, with the combined business now been re-branded as Brandon Hire Station, and the integration should be fully completed by the end of the first half of the new financial year.
In its International division, the group said it has experienced on-going challenging trading conditions in the offshore oil and gas sector, whilst its test and measurement business in the Asia Pacific region has traded well.
Vp added that exceptional costs in the second half of the year are expected to be around £4mln, resulting from acquisition integration costs and business restructuring.
The group said it will be announcing its final results for the year ended 31 March 2019 on 4 June 2019.
In morning trading, Vp shares were 2.5% higher at 1.020p.