Doncaster’s Polypipe unveils strong growth in published Annual Financial Report

Polypipe Group, a Doncaster-based manufacturer of plastic piping systems for the residential, commercial, civils and infrastructure sectors, has published its Annual Report and Accounts for the year ended 31 December 2014 and the Notice of 2015 Annual General Meeting

As reported last month, the company finished very strong in terms of profitas last year came to an end, with its overall revenue finishing at £327m, which is an 8.7% increase from 2013’s total of £300.8m

However, the company did encounter a loss of just over £7m in pre-tax profit after operating exceptional items in the past year, which totalled at £16.9m compared to £24.6m in 2013.

This drop is down to the company being charged £12.2m in relation to the IPO listing cost, as well as additional charges of £8.6m in the year due to the refinancing of the Senior Secured Notes.

Copies of the Annual Report and Accounts for the year ended 31 December 2014, as well as the the Notice of 2015 Annual General Meeting and the Proxy Form for the 2015 Annual General Meeting are being posted to shareholders today.

These documents also contains the information required to comply with Disclosure and Transparency Rule 6.3.5 including information on related party transactions and the principal risks and uncertainties faced by the business, together with the directors’ responsibility statement.

Polypipe is set to hold its Annual General Meeting at 11.00 am on 27 May 2015 at Holiday Inn, High Road, Doncaster, DN4 9UX.