BPI.L Share News (BPI)

Heavy plastics maker British Polythene said profits will be comfortably ahead of its previous expectations despite absorbing £2m of restructuring costs. The group said this has been achieved despite lower overall volumes and a difficult trading environment due to stable input costs, a reduced cost base, favourable exchange rates and better than expected demand. Silage stretch volumes are broadly on target after six months.Construction demand remains depressed, although sales of packaging for bagged aggregates has been slightly better than expected.Demand from the horticultural sector for packaging for garden composts has been better than for many years, it said."Our polymer suppliers are currently pressing for increases in polymer prices in an attempt to recover internal feedstock transfer prices. It remains to be seen how successful they will be," said the group.