Polypipe revenue up 4.5% in year to date; sees profits in line with expectations
Source - SMW
Plastic piping and ventilation system manufacturer Polypipe Group said its revenue had increased 10.2% in the fourth months through October on a like-for-like basis.
Trading was in line with expectations and the company's outlook for the full year was unchanged, it added.
For the 10 months through October, revenue was up 4.5% on-year at £365.9m, and 4.1% higher on a like-for-like basis.
The more recent increase in the revenue growth rate was driven by organic growth in the residential systems unit, together with a significant improvement in commercial and infrastructure systems.
Second-half operating margins would be higher than in the equivalent period in 2017, driven by improved profit performance in the Middle East following the closure of a manufacturing facility and operational leverage on higher volumes.
'This performance will deliver full year profits in line with management expectations,' Polypipe said.