Polypipe performing ahead of expectations despite middle East challenges

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David Hall

Doncaster-based manufacturer Polypipe is performing ahead of expectations this year as it releases its mid year results, despite political problems in the Middle East .

Revenues are up 8.4% £242.0m for the half year to June 2017, according to the plastic piping manufacturer, translating into a pre-tax profits rise to £31.5m from £29.9m on the same period in the year before.

The challenge in the Middle East, has led to the cessation of manufacturing at its site in the region due to a recent trade embargo between the United Arab Emirates and Qatar.

CEO David Hall seems bullish though, saying:”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.”