Equipment rental group Vp plc has reported an 18% drop in adjusted profit for the first half of the year, falling to £17.3 million (2024: £21.0 million), citing a "challenging" UK market. Revenues for the six months to 30 September 2025 dipped 2% to £188.4 million.

The fall in profit has led Vp to announce a major strategic overhaul of its UK division, Brandon Hire Station.

Vp is repositioning Brandon Hire Station to create a smaller, more focused, and profitable business by:

Exiting the consumer (DIY) market to focus only on strategic B2B customers.

Reducing its branch network from around 100 to approximately 40 locations.

Cutting headcount by about 400 staff.

The firm anticipates this move will significantly improve profitability and increase its overall return on capital.

Market Highlights

While the UK general construction market struggled, Vp saw strong growth in its international division, driven by operations in Ireland and Germany. The Group also maintained its interim dividend at 11.5 pence per share.

CEO Anna Bielby stated: “The decisive actions to reposition Brandon Hire Station further progresses the Group’s strategy, ensuring greater focus on higher returns, specialist assets and markets.”

Vp expects full-year performance to meet market expectations, despite the difficult economic backdrop.