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Polypipe swings to interim profit

Thu, 20th Aug 2015 11:55

(ShareCast News) - Plastic piping systems manufacturer Polypipe Group has swung to a profit in the first six months of the year.In the six months to 30 June, the group posted a pre-tax profit of £23.2m compared with the £4.6m loss it recorded in the corresponding period in 2014, when it was hit by costs related to its refinancing and initial public offering.Excluding exceptional items, the company posted a 42% year-on-year increase in pre-tax profit to £23.2m, while revenue climbed 1.3% higher to £170.4m, boosted by a 5.1% year-on-year growth in underlying revenue in the UK."The year started strongly supported by a strengthening market in the UK and we are well placed to capture our share of the anticipated market growth," said group chief executive David Hall."Our strategic initiatives all continue to show good progress over and above the market and the recent acquisition of Nuaire will support our aims to accelerate our growth."The company has lifted its interim dividend by 53% year-on-year to 2.3p per share.Polypipe shares were down 0.72% to 342.50p at 1212 BST on Thursday.
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17 Jun 2020 13:18

Wednesday broker round-up

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17 Jun 2020 13:15

Berenberg reiterates 'hold' rating on Polypipe

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8 Jun 2020 09:31

UK BROKER RATINGS SUMMARY: RBC Cuts JD Sports And Raises Kingfisher

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8 Jun 2020 08:08

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14 May 2020 16:28

UK Shareholder Meetings Calendar - Next 7 Days

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7 May 2020 15:15

UPDATE: Polypipe Raises GBP120 Million To Strengthen Balance Sheet

UPDATE: Polypipe Raises GBP120 Million To Strengthen Balance Sheet

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7 May 2020 12:17

Polypipe Sets GBP120 Million Placing With Demand 70% Less Than Normal

Polypipe Sets GBP120 Million Placing With Demand 70% Less Than Normal

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7 May 2020 08:51

Polypipe looks to raise ?120m amid slump in demand

(Sharecast News) - Plastic pipes manufacturer Polypipe said on Thursday that it was looking to raise up to ?120m by way of a placing amid a slump in demand due to the Covid-19 pandemic.

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27 Mar 2020 09:50

UK BROKER RATINGS SUMMARY: Berenberg Lowers Vodafone And Cineworld

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25 Mar 2020 18:17

UK TRADING UPDATE SUMMARY: MJ Gleeson To Cease Build Operations

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25 Mar 2020 14:42

Polypipe suspends divi as it winds down operations due to Covid-19

(Sharecast News) - Polypipe said on Wednesday that it was suspending its dividend as it winds down operations due to the coronavirus outbreak.

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19 Mar 2020 10:18

Housebuilders are too cheap, Jefferies says

(Sharecast News) - UK housebuilders are too cheap, Jefferies said as the broker placed 'buy' ratings on almost all sector stocks after big share price falls caused by the coronavirus crisis.

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19 Mar 2020 09:30

UK BROKER RATINGS SUMMARY: Jefferies Ups Taylor Wimpey, Barratt To Buy

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18 Mar 2020 13:42

Wednesday broker round-up

(Sharecast News) - Polypipe: Deutsche Bank upgrades to buy with a target price of 550p.

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UK BROKER RATINGS SUMMARY: Jefferies And Exane BNP Both Raise Reckitt

UK BROKER RATINGS SUMMARY: Jefferies And Exane BNP Both Raise Reckitt

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