Polypipe Group sees revenue hit £242m in first half of 2017

Polypipe Group plc, the manufacturer of plastic piping and ventilation systems for the residential, commercial, civils and infrastructure sectors, has released its financial results for the six months ending 30th June, 2017.

For the first half of the year, the Doncaster-based firm saw revenue hit £242m, marking an 8% increase on the £223.3m achieved during the same period in 2016.

Polypipe also reported a 3.1% increase in underlying operating profit to £38.9m, and a further 5.3% jump in pre-tax profit to £31.5m.

Polypipe 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.

The group also designs and manufactures energy efficient ventilation systems in the UK.

Polypipe operates from 20 facilities in total, and with over 20,000 product lines, manufacturing a wide range of plastic piping systems for heating, plumbing, drainage and ventilation.

The Group primarily targets the UK, French and Irish building and construction markets with a presence in Italy and the Middle East.

David Hall, Polypipe Group CEO, said: “The Group has delivered another record performance, building on the strong momentum from last year and demonstrating that our strategic focus on structural growth opportunities is delivering results.

“Although underlying fundamentals remain positive, the Group has experienced varying conditions in its different markets and has also faced some challenges in the first half of the year.

“I am encouraged by the way the business has risen to these challenges which is further evidence of the depth and strength of management across the Group.

“As a result of our growth initiatives, balanced exposure to our markets and overall performance, the Board is confident that the Group will continue to make progress in line with management expectations for the year.”