The firm enjoyed an 11% jump in pre-tax profit to £29.8m on turnover up 2% to £208.7m.
The excavation support systems division Groundforce delivered another strong set of results despite demand from water market being at a cyclical low ahead of the AMP 6 investment programme.
Groundforce saw operating profits rise to £9.6m from £8.9m as turnover edged up to £45m.
Chief executive Neil Stothard is confident about prospects for the rest of the financial year.
He said: “Vp has, in the year under review, reported good progress, with further improvement in profit margins and returns, delivered from a relatively modest growth in revenues.
“This trend is expected to continue as the varying demands of supportive infrastructure, housebuilding and construction markets play against a challenged oil and gas sector.
“The new financial year has started well and we look forward to another year of progression for Vp and our shareholders.”
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During the year Vp also invested £45.9m in its rental fleet.
