Polypipe Group PLC Trading Update (9006Z)
23 Mayo 2019 - 1:00AM
UK Regulatory
TIDMPLP
RNS Number : 9006Z
Polypipe Group PLC
23 May 2019
Polypipe Group plc
Trading Update
23 May 2019
Polypipe Group plc ("Polypipe" or the "Group"), a leading
provider of sustainable water and climate management solutions for
the built environment, today issues an update on trading for the
four months ended 30 April 2019, ahead of its Annual General
Meeting, which takes place at 1030hrs (BST) today at the Holiday
Inn, High Road, Doncaster, DN4 9UX. Polypipe will report its
interim results for the six months ending 30 June 2019 on 13 August
2019.
Trading update
An encouraging start to the year gives the Board confidence of
delivering its full year 2019 expectations.
Group revenue for the four months ended 30 April 2019 at
GBP146.6m (2018: GBP135.7m) was 8.0% higher than the prior year. On
a like-for-like basis excluding the impact of acquisitions, revenue
was 3.0% higher.
Residential Systems revenue, representing 57% of Group revenue,
was 8.4% higher than the prior period, helped by improved weather
conditions and the acquisition of Manthorpe. This was partially
offset by merchant pre-price increase forward buying into Q4 2018.
Manthorpe, acquired in October 2018, is performing in line with
expectations and integration is going to plan.
Commercial and Infrastructure Systems revenue, representing 43%
of Group revenue, was 7.6% higher than the prior year, buoyed by
the continued success of new product launches in 2018, improved
weather conditions, and the acquisition of Permavoid which is
performing in line with expectations, with integration now
complete.
Martin Payne, Chief Executive Officer said:
"Our leading position as a provider of sustainable water and
climate management solutions continues to help us drive strong cash
generation and deliver growth. Trading in recent weeks has remained
strong with continued market share gains and end markets holding up
well. We remain on track to deliver our expectations for the full
year."
For further information please contact:
Polypipe +44 (0) 1709 770 000
Martin Payne, Chief Executive Officer
Paul James, Chief Financial Officer
Brunswick +44 (0) 20 7404 5959
Nina Coad
Dan Roberts
Nick Beswick
A copy of this trading update will be available on our website
http://ir.polypipe.com today from 0700hrs (BST).
Notes to Editors:
Polypipe Group plc ("Polypipe" or the "Group"), a leading
provider of sustainable water and climate management solutions for
the built environment is the largest manufacturer in the UK, and
among the ten largest manufacturers in Europe, of plastic piping
systems for the residential, commercial, civils and infrastructure
sectors by revenue. It is also a leading designer and manufacturer
of energy efficient ventilation systems in the UK.
The Group operates from 18 facilities in total, and with over
20,000 product lines, manufactures the UK's widest range of plastic
piping systems for heating, plumbing, drainage and ventilation. The
Group primarily targets the UK and European building and
construction markets with a presence in Italy and the Middle East
and sales to specific niches in the rest of the world.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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