LONDON (Alliance News) - British Polythene Industries PLC Wednesday reiterated that its expects a satisfactory performance in 2014, after saying it expects to report first half results above the first half of 2013 despite a loss in its North American operations.
In a trading update, the company said its UK agricultural films business had got off to a slow start after a wetter than normal spring in the south of the country, but volumes are now similar to those in the first half of 2013.
"Despite continued down-gauging seen in other products, it is pleasing to note that volumes there have shown modest improvement. The group currently anticipates overall volumes to be slightly ahead of the first half of 2013," it said in a statement.
British Polythene said its North American business has been hit by a delay in the delivery and installation of the replacement for their largest extrusion line.
It said that overall raw material input costs eased very slightly in the last few months, but it is currently seeing increases in July, as polymer producer feedstock costs have firmed in Western Europe.
"The first half result underpins our confidence in current market expectations for the full year," it said.
British Polythene shares were up 0.1% at 652.5 pence early Wednesday.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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