LONDON (Alliance News) - British Polythene Industries PLC on Friday said it expects its first half performance to be slightly improved year-on-year on the back of a continued volume increase.
On the back of the volume increase, and a recovery in its North American business, the company said it would have expected an even strong performance, but its margins have been constrained in recent months as it passed on raw material cost rises. It now thinks these prices rises are beginning to abate.
In addition, robust trading in Europe has been offset by the weakness of the euro.
But, despite the volatile trading conditions, the company affirmed its expectations for the full year.
Shares in British Polythene were up 0.1% to 683.75 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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