Polypipe delivers ‘positive’ update

In an interim management statement, the company said it expected its full year results to be at the top end of market expectations. The group, which floated earlier this year, said it had maintained its positive trading performance in 2014 with revenue for the first 10 months of the year 9.1 per cent ahead of the same period in the previous year.

In the UK operations, revenue in the 10 month period ended October 31 2014 was 13.3 per cent ahead on the prior year as the company continued to experience “strong market demand in the residential, commercial and infrastructure sectors”.

The statement added: “We also continued to benefit from our growth initiatives in the areas of water management and carbon efficient solutions. The growth rate for the four month period ended October 31 2014 of 12.1 per cent was achieved against tougher comparables than in the first half of the year, particularly in the commercial and infrastructure division. This division also experienced lower growth in export sales during the four month period ended October 31 2014 as a result of the timing of the seasonal holiday period in the Middle East.”

David Hall, the chief executive, said: “Our positive start to the year has continued into the second half with sales benefiting from a strong UK market and our initiatives to grow sales in water management and carbon efficiency. As a result of the continuing strong performance in our main UK market, we now expect our full year results to be at the top end of the range of market expectations.”