Polypipe delivers '˜resilient' first half performance

POLYPIPE today revealed it had delivered a '˜resilient' first half performance.

Tuesday, 14th August 2018, 10:04 am
Updated Tuesday, 14th August 2018, 10:08 am
City analysts will be studying Polypipe's latest results Photo: Ian West/PA Wire

Polypipe Group, which is a manufacturer of plastic piping and ventilation systems for the residential, commercial, civils and infrastructure sectors, has announced its unaudited interim results for the six months ended June 30 2018.

The company said results for the six-month period were in line with expectations and the management team remains confident of delivering its full year expectations.

Half year revenue was £210.2m, compared with £210.0m in the same period last year.

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Martin Payne, the chief executive, said: “Against a backdrop of mixed market conditions and adverse weather the group has performed well in the first half.

“With the group’s balanced business model, underpinned by the long-term growth drivers of legacy material substitution and continuing legislative tailwinds in water management and climate change, I am confident the group will make good progress in the second half of the year.”