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Peel Hunt downgrades Polypipe after full-year results

Tue, 19th Mar 2019 15:54

(Sharecast News) - Analyst at Peel Hunt downgraded their recommendation on stock in Polypipe following the recent sharp run-up in the share price.On Tuesday, the manufacturer of pipe of and water management systems for the residential, commercial and public sectors posted a strong 4.2% jump in full-year like-for-like sales, but margins took a hit, in part as it ran into capacity constraints in the fourth quarter, as sales picked up sharply after a flat first half.Although the company had already made extra investments in order to alleviate those, and despite price increases for customers and the full-year contribution of the Manthorpe and Permavoid businesses which it acquired in the second half of 2018, the analysts did not expect to make any major changes to their estimates for the company's 2019 profits before tax and earnings per share.Barring further acquistions, the broker also expected net debt to reduce to about 1.4 times operating profits.Even so, it kept its target price at 455p.But above all, the shares had had a "very strong run" year-to-date, gaining 32%, Peel Hunt pointed out as it downgraded the stock from 'buy' to 'add'.
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17 Aug 2016 12:27

Wednesday newspaper share tips: Polypipe, Antofagasta

(ShareCast News) - Polypipe should not be affected by the result of the EU referendum, as its trading performance during the first half of the year attests, according to the Financial Times' Lex. Indeed, sales at the FTSE 250-listed manufacturer of plastic piping systems - of which environmental

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16 Aug 2016 07:26

Polypipe posts record operating margin in first half

(ShareCast News) - Plastic piping and ventilation systems manufacturer Polypipe Group announced its half year unaudited results for the six months to 30 June on Tuesday, with revenue 31% higher at £223.3m. The FTSE 250 firm said its UK revenue for the period was 8.1% ahead, excluding acquisitions, w

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5 Aug 2016 15:30

Sector movers: US jobs data gives cyclicals a boost

(ShareCast News) - The wheels of the market turned in favour of cyclicals at the end of the week, following the release of a much stronger-than-expected reading on the state of the US jobs market. Although economists still appeared to be somewhat divided on whether the US central bank would finally

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28 Jun 2016 13:52

DIRECTOR DEALINGS: Polypipe Group Non-Executive Buys Shares

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8 Jun 2016 10:34

DIRECTOR DEALINGS: Polypipe Group CFO Buys First Shares

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25 May 2016 15:19

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25 May 2016 09:45

Polypipe reports strong start to the year

(ShareCast News) - Polypipe reported a jump in revenue for the first four months of the year and said it was well placed to deliver on its full-year expectations. In a trading update for the four months to 30 April, the FTSE 250 manufacturer of plastic piping systems said revenue rose 32.5% from th

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25 May 2016 07:18

Polypipe Revenue Surges Amid Improving UK And French Markets

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18 May 2016 15:05

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21 Apr 2016 15:04

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1 Apr 2016 16:13

LONDON MARKET CLOSE: FTSE 100 Ends Week Up After "Goldilocks" US Data

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31 Mar 2016 08:16

Another year of impressive growth for Polypipe

(ShareCast News) - Polypipe's first full year as a listed company saw more massive growth, with the plastic piping and ventilation systems manufacturer reporting strong increases in revenue and earnings in its final results on Thursday. Revenue at the FTSE 250 firm grew 8% during the calendar year,

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31 Mar 2016 06:51

Polypipe Profit Doubles On Strong UK Performance And Lower Costs

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24 Mar 2016 16:10

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3 Dec 2015 17:24

DIRECTOR DEALINGS SUMMARY: Polypipe Team Sell GBP10 Million In Shares

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