Vp (VP) H2 2026 TU earnings summary

Executive summary

• Expects FY26 profit before tax, amortisation, impairment, and exceptional items between £26-29m, aligning with revised guidance.

• Maintained operational and financial discipline amid challenging macroeconomic conditions.

• Strategic focus on infrastructure-led markets and digital transformation continues.

Financial highlights

• Profit guidance for FY26 set at £26-29m, consistent with previous revisions.

• Balance sheet remains strong, supporting disciplined investment and value creation.

Outlook and guidance

• Board remains confident in future performance due to diversified model and infrastructure exposure.

• Market conditions remain mixed, but long-term demand drivers are intact.

• Infrastructure sector, especially electricity transmission, shows growth and strong demand.

• Water sector expected to improve revenues in FY27 as AMP8 progresses.