Polypipe delivers ‘continued growth and strategic progress’

Polypipe has published its full year results in the City.  Photo: Jonathan Brady/PA Wire
Polypipe has published its full year results in the City. Photo: Jonathan Brady/PA Wire
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Polypipe Group, a provider of sustainable water and climate management services for the built environment, today said it had enjoyed a year of continued growth and strategic progress.

In 2018, the company recorded revenue of £433.2m, a 5.2 per cent increase on the previous year. The company said this improvement had been achieved despite facing mixed market conditions.

The company said its second half acquisitions – Permavoid and Manthorpe - were performing in line with expectations and their integration is progressing well

Martin Payne, the chief executive, said: “We are delighted to report another record performance, despite a backdrop of challenging market conditions.

“Our second half of the year was strong, and we completed two significant acquisitions as part of our strategy to broaden our market offering.

“Both Manthorpe and Permavoid are performing in line with expectations and we look forward to further progress.

“We continue to see strong cash generation, and the long-term growth drivers of legacy material substitution and legislative tailwinds, together with our strong balance sheet, position us well for the future.”