2 Jul 2014 07:00
02 July 2014
BRITISH POLYTHENE INDUSTRIES PLC
TRADING UPDATE
Ahead of the Interim Results for the six months to 30 June 2014, to be announced on 29 August 2014, British Polythene Industries PLC is providing an update on current trading.
As indicated at the time of the AGM on 8 May 2014, we anticipated a further satisfactory performance for the current year. We can confirm that we expect an outcome for the first half ahead of the comparative period in 2013. This will be achieved despite a loss in our North American operation where there was a delay in the delivery and installation of the replacement for their largest extrusion line. The first half result underpins our confidence in current market expectations for the full year.
After a slow start, due to a wetter than normal spring in the south of the UK, we are pleased to report that the agricultural films markets have proved resilient, with volumes similar to 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.
Our raw material input costs have eased very slightly in the last few months, but we are currently seeing increases in July, as polymer producers feedstock costs have firmed in Western Europe.
Enquiries:
Cameron McLatchie, Chairman | British Polythene Industries PLC | 01475 501000 |
John Langlands, Chief Executive | British Polythene Industries PLC | 01475 501000 |
Charlie Palmer/Lucy Delaney | FTI Consulting | 0207 831 3113 |