“Strong” trading period for Doncaster’s Polypipe

Acquisitions drive revenue growth at Polypipe Group
Credit: Polypipe

Doncaster’s Polypipe Group has hailed its “strong” trading with Group revenue for the four months ended 30 April standing at £145.6 million, an 8% rise on the same period last year.

On a like-for-like basis – excluding the impact of acquisitions – revenue was 3 % higher than the same period last year.

Residential Systems revenue, representing 57% of Group revenue, was 8.4% higher than the prior period, boosted by improved weather conditions and the Group’s acquisition of Manthorpe.

Acquired in October 2018, Polypipe said Manthrope is “performing in line with expectations” and added that integration is now complete.

Commercial and Infrastructure Systems revenue, representing 43% of Group revenue, was 7.6% higher than the prior year, buoyed by the continued success of new product launches in 2018, improved weather conditions, and the acquisition of Permavoid which is performing in line with expectations, with integration now complete.

Martin Payne, Chief Executive Officer said: “Our leading position as a provider of sustainable water and climate management solutions continues to help us drive strong cash generation and deliver growth.

“Trading in recent weeks has remained strong with continued market share gains and end markets holding up well. We remain on track to deliver our expectations for the full year.”