Source - SMW
Plastic piping and ventilation system manufacturer Polypipe Group said revenue in the first four months of the financial year had slipped 0.9%, though the company said it remained confident of delivering on its full-year expectations.

Revenue for the four months through April fell to £135.7m, as adverse weather conditions in late February and March impacted customers' ability to work on site, reducing revenue by around £8m.

Underlying revenue growth, excluding the impact of the adverse weather, was around 5.0%.

'Trading in the latter part of April, after the effects of adverse weather had passed, was consistent with this adjusted growth rate,' it added.

On its outlook more broadly, the company said the latest forecasts from the Construction Products Association showed a broadly flat construction market for 2018.

'The board believes that with continued focus on the core elements of its strategy the group remains well placed to grow revenue ahead of the market,' Polypipe said.

'The board remains confident of delivering its full year 2018 expectations.'


At 8:22am: (LON:PLP) Polypipe Group Plc share price was -5.4p at 410.6p