Polypipe profit up 4.7% in 'mixed market conditions'
Source - SMW
Water and climate management products supplier Polypipe Group posted a 4.7% rise in annual profit as it grew sales amid 'mixed market conditions'.
Pre-tax profit for the year through December rose to £58.2m, as revenue rose 5.2% to £433.2m.
Polypiple declared a full-year dividend of 11.6p per share, up 4.5% on-year.
Looking ahead, the company said the fundamentals of our markets remained robust with a continued structural housing shortage in the UK, Help-to-Buy extended to 2023, historically low interest rates and good mortgage availability underpinning new housebuilding activity.
'RMI and commercial and infrastructure markets have been and will continue to remain challenging,' it added.
'Whilst we remain vigilant to the impacts of uncertainty on our markets, our balanced portfolio positions the group well, and we look forward to another year of progress in 2019.'